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I hope to solve the question in less than 90 minutes Question 1 XYZ Company has the following accounts at the end of the current
I hope to solve the question in less than 90 minutes
Question 1 XYZ Company has the following accounts at the end of the current year: 1. Share Capital-Ordinary. 2. Notes Payable (long-term). 3. Treasury Shares (at cost). 4. Note Payable (short-term). 5. Raw Materials. 6. Long-Term Investment in Preference Shares. 7. Unearned Rent Revenue. 8. Work in Process. 9. Copyrights. 10. Buildings. 11. Notes Receivable (short-term). 12. Cash. 13. Salaries and Wages Payable. 14. Accumulated Depreciation-Buildings. 15. Cash Restricted for Plant Expansion. 16. Land Held for Future Plant Site. 17. Allowance for Doubtful Accounts 18. Retained Earnings. 19. Share Premium-Ordinary. 20. Unearned Service Revenue. 21. Receivables-Officers (due in 1 year). 22. Finished Goods. 23. Accounts Receivable. 24. Bonds Payable (due in 4 years). - Prepare a classified statement of financial position in good form ( No monetary amounts are necessary)
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