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Please solve it on a paper and explain your answers in detail. Thank you QUES asset, financial liability, equity instruments or derivatives and explain your
Please solve it on a paper and explain your answers in detail. Thank you
QUES asset, financial liability, equity instruments or derivatives and explain your answers. (a) Identify which of the following are financial instruments and for which category (Financial i) Onaapo Ltd sold inventory for GHC10,000 to Opana Enterprise on a 15 day trade credit term 4marks (ii) Onaapo Ltd paid GHC30,000 in advance for a year's insurance policy 4marks in Onaapo Ltd entered into a contract to sell GHC200,000 in six months' time for GHC98,000 Owusu 4marks (iv) Onaapo Ltd issued 200,000 ordinary shares at GHC2 per share and were acquired by Mr. 4marks (v) Onaapo Itd borrowed GHC400,000 under a mortgage from Classic Bank 4marks Total marks 20marksStep by Step Solution
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