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Unit 3 Assignment The following accounts and account balances are taken from the records of Tesco Corporation at December 31 . 2023. Other information: a.

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Unit 3 Assignment The following accounts and account balances are taken from the records of Tesco Corporation at December 31 . 2023. Other information: a. \$1,000 of the notes receivable at December 31,2023 will be received in cash during 2024 . All of the notes receivable at December 31, 2022 were received in cash during 2023. b. $3,000 of the bank loan and $2,000 of the mortgage payable must be repaid by December 31,2024 . Aequired: 1. Cakulate net income for 2023 and 2022 using the T account method shown in class. 2. Prepare a classified statement of financial position. Assume all accounts have normal balances. 3. Does Tesco Corporation have sufficient resources to meet its current obligations in 2024? 4. Refer to BoCC's note 4 shown in this chapter. Prepare a suitable note to the financial statements. Assume there are no additions to PPE in 2022, and that there is no depreciation calculated for either vear

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