Question: Assume that Iris Inc has the following accounts at the

Assume that Iris Inc. has the following accounts at the end of the current year:
1. Common Shares
2. Raw Materials
3. FV-OCI Investments
4. Unearned Rent Revenue
5. Work-in-Process Inventory
6. Intangible Assets-Copyrights
7. Buildings
8. Notes Receivable (due in three months)
9. Cash
10. Salaries and Wages Payable
11. Accumulated Depreciation- Buildings
12. Restricted Cash (for plant expansion)
13. Land Held for Future Plant Site
14. Allowance for Doubtful Accounts
15. Retained Earnings
16. Unearned Subscriptions Revenue
17. Accounts Receivable-Officers (due in one year)
18. Finished Goods Inventory
19. Accounts Receivable
20. Bonds Payable (due in four years)
Prepare a classified statement of financial position in good form (no monetary amounts are necessary).

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  • CreatedSeptember 18, 2015
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