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Please help Teal Mountain Limited had the following statement of financial position for the current year, 2023: The following additional information is available and provides
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Teal Mountain Limited had the following statement of financial position for the current year, 2023: The following additional information is available and provides information regarding errors in classification which need to be corrected: 4. Intangible assets include the following:patents net of accumulated amortization of $38,400. 5. Other assets include the following: customer deposits of $8,400, unearned revenue of $3,600, goodwill $52,800 and accumulated other comprehensive income (loss) of $(4,800 ). 6. Current Liabilities include the following: pension obligation of $64,800, interest payable of $4,800; salaries and wages payable of $9,600; accounts payable $37,200. 7. Long-term Liabilities include the following: demand bank loan of $90,000; mortgage payable $114,000 of which $8,400 is due in the next year. Prepare a statement of financial position in good form. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, and Vehicles.) Teal Mountain Limited Statement of Financial Position Assets $ $ $ $ $ Liabilities and Shareholders' Equity $ $ $ $ Teal Mountain Limited had the following statement of financial position for the current year, 2023: The following additional information is available and provides information regarding errors in classification which need to be corrected: 4. Intangible assets include the following:patents net of accumulated amortization of $38,400. 5. Other assets include the following: customer deposits of $8,400, unearned revenue of $3,600, goodwill $52,800 and accumulated other comprehensive income (loss) of $(4,800 ). 6. Current Liabilities include the following: pension obligation of $64,800, interest payable of $4,800; salaries and wages payable of $9,600; accounts payable $37,200. 7. Long-term Liabilities include the following: demand bank loan of $90,000; mortgage payable $114,000 of which $8,400 is due in the next year. Prepare a statement of financial position in good form. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, and Vehicles.) Teal Mountain Limited Statement of Financial Position Assets $ $ $ $ $ Liabilities and Shareholders' Equity $ $ $ $Step by Step Solution
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