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The following accounts balance appeared in the adjusted trial balance of Tree Toy Company, a trading firm, at March 31, 2020. Dr Cr Accounts Payable

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The following accounts balance appeared in the adjusted trial balance of Tree Toy Company, a trading firm, at March 31, 2020. Dr Cr Accounts Payable $ 83,620 Accounts Receivable $ 64,700 Accumulated Depreciation - Buildings $ 18,000 Accumulated Depreciation - Equipment $ 55,000 Buildings $ 180,000 Cash $ 42,560 Common Stock $ 300,000 Cost of Goods Sold $ 450,000 Depreciation Expense $ 29,000 Dividends $ 18,000 Equipment $ 100,000 Gain on Disposal of Plant Assets $ 6,400 Income Tax Expense $ 10,000 Insurance Expense $ 8,990 Interest Expense $ 9,700 Interest Payable $ 9,500 Inventory $ 62,700 Land $ 240,000 Mortgage Payable $ 129,000 Prepaid Insurance $ 18,000 Maintenance and Repairs Expense $ 4,930 Retained Earnings $ 24,890 Salaries and Wages Expense $ 99,000 Sales Revenue $ 643,000 Salaries and Wages Payable $ 86,400 Sales Returns and Allowances $ 2,150 Utilities Expense $ 16,080 $ 1,355,810 $1,355,810 Required: (a) Part of the mortgage payable, in the amount of $6,450, is due on December 31, 2020. Prepare a classified balance sheet for Tree Toy Company as at March 31, 2020. (15 marks) Question 1 (b) When will Dollar Tree Inc (CIK: 935703; Nasdaq ticker: DLTR) publish an annual report of 53 weeks' financial results? Why will the financial statements report 53 weeks instead of 52 weeks as intuitively we have a 52-week year. Identify this balance sheet date for Dollar Tree Inc (must be a date after Feb 1, 2020 and closest to Feb 1, 2020). Explain your answer in not more than 150 words. (10 marks) Paint X lite

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