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QUESTION 2 The following accounts are from XYZ, Inc. Balance Sheet as of December 31, 2020 Building Saluries Payable Cash Share Capital Intangible Assets: Patents
QUESTION 2 The following accounts are from XYZ, Inc. Balance Sheet as of December 31, 2020 Building Saluries Payable Cash Share Capital Intangible Assets: Patents and Trade Mark Account Receivable Notes Payable Retained Earnings 25,000 OMR 10,000 OMR 15,000 OMR 75,000 OMR 60,000 OMR 3.000 OMR 4,500 OMR Requirements: 1. What is the amount of XYZ total Non-Current assets as of December 31, 20207 (Rubrice I mark for the correct account balances and answer-Total 1 mark) 2. Identify the accounts listed above that are Current liabilities (Rubrics: 0.25 mark for the correct account identification-Total 0.5 murk) 3. What is the amoum of XYZ's retained curnings as of December 31, 20207 cttint we the extended accounting equatio) (Rubrics: 125 murd for the correct calculation and answer - Total 2 mark) 4. Prepare a balance sheet for XYZ as of December 31, 2020. (Rubrics: 0.25 mark for each correct element and correct form of balance sheet and heading, 0.5 mark for the correct calculations of totals. Total = 3.5 marks)
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