please answer part 2 asap

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The following additional information is provided: 2. the allowance for doubtful accounts $9,200. 3. The net realizable value of the inventory that is included in the Balance Sheet is $95,000 The following items have not been recorded or included in inventory: - Papcowski bought inventory for $5,000 on December 27th, the terms are FOB shipping and the inventory arrived on January 3rd. - Papcowski sold inventory for $8,000 on December 28th, the terms are FOB destination and the customer received the inventory on January 4rd The cost of the inventory sold was $2,400 - Papcowski recerved inventory of $10,000 on consignment from Merrigold Inc 4. The investments section includes the following: - An interest bearing note receivable of $10,000 that was issued on October 1n,2023 beariag interest at 6% and is due on October 1,2024 - Long-term V-oCl investment $8,000 carrying value (fair value $12,000 at December 31,2023). Management plans on holding on to these investments for a number of years. FV-NI Investment 1,000 common shares of Lindon Inc. purchased at $7.00 per share (fair value $10.50 per share at December 31,2023). Papcowski expects to sell the shares as soon as the market price increases more next year. - Purchased 30% of Maroon Company. Papcowski purchased the shares for $15 each. Maroon company has 10,000 shares issued and outstanding. During the year the company declared and paid a dividend for $20,000 and the net income was $150,000. The fair value of the invertment $17 per share, Only the purchase has been recorded. 5. The land balance includes: land used for operations and recorded at its cost of $120,000 (the appraisal value of the land in 2023 was $500,000 ). The company doesn t use the revaluation model. Land held for future use was purchased at $80,000. The fair value of this land on December 31 st is $120,000. 6. The building originally cost $450,000 and it was purchased on January 1et,2023 and has a useful life of 20 years and a residual value of 50,000 . Depreciation has not been recorded for 2023. Accumulated depreciation is $0. 7. The license originally cost $25,000 and is being amortized over 5 years on a straight-line basis. Amortization for 2023 has not been recorded 8. Current liabilities include: Deferred revenue $40,000 Accounts payable $97,000 Wages payable $14,500 Notes payable 5 year 5% \$98,500 (19,700 is due in 2024) 9. Long-term labbilities include: Bank loan (5%, due in 10 years) $200,000 Pension obligation $310,000 other comprehensive income $18,000 Part1(27marks)Required: The company is a Canadian public company. Prepare the Statement of Financial Position sheet at December 31, 2023 in good form. The categories are: Current Assets, Long-term Investments and Long-term Receivables, Property, Plant \& Equipment and Intangible Assets, Current Liabilities, Long-term liabilities and Shareholders Equity. Part 2 (18 marks) Prepare any journal entries you made to reflect the additional information Question (50 marks) The bookkeeper for Papacowski Corp has prepared the following balance sheet as at December 31, 2023: The Ionowing additional information is provided: 3. The net realizable value of the unventory that is inchuded in the Balance Sheet is 595,000 The following items bave not been recorded or meluded un invempony: - Papcowsi boughr inventory for 55,000 on Decemiber 27t, the termis are FOB shipping and the inventory aumed on Jamuary 3Het - Papcowaki wold inventory for 58,000 on Docemiber 28'=, the terms are FOB destination and the customer teceived the mweritory on January 44. The cost of the inventory sold was - Papcowika recerved unventory of $10,000 on convigument from Mempold inc 4. The investments section includes the following - An interest bearing note recelvable of $10,000 that was issued on October 1Ht,2023 bearing interest at 6% and is due on October 1,2024 - Long-term FV-oci investment $8,000 carrying value ffair value $12,000 at December 31,2023). Management plans on holding on to these investments for a number of years: FV-N1 investment 1,000 common shares of Lindon inc. purchased at \$7.00 per share (fair value $10.50 per share at December 31,2023 ). Papcowski expects to sell the shares as soon as the market price increases more next year. - Purchased 30\% of Maroon Company. Papcowski purchased the shares for \$15 each. Maroon compary has 10,000 shares issued and outstanding. During the year the company declared and paid a dividend for $20,000 and the net income was $150,000. The fair value of the investment $17 per share. Only the purchase has been recorded. 5. The land balance includes: land used for operations and recorded at its cost of $120,000 (the appraisal value of the land in 2023 was $500,000). The company doesn't use the revaluation model. Land held for future use was purchased at $80,000. The fair value of this land on December 31 st is $120,000 6. The building origmally cost $450,000 and it was purchased on January 1 it 2023 and has a useful life of 20 years and a residual value of 50,000 . Depreciation bas not been recorded for 2023. Accumulated depreciation is So 7. The license originally cost $25,000 and is being amortized over 5 years on a stratght-line basis Amortization for 2023 has not been recorded 8. Current liabilities include Deferred revenue $40,000 Accounts payable 597,000 Wagen payable $14,500 Notes payable 5 year 5%6,598,500(19,700 is duc in 2024) 9. Lonz.term liabilities include Bank loan ( 5%. due in 10 years) $200,000 10. Shareholders Equiry includes: Common shares $50,000 Retained earnings $230,600 Accumulated other comprehensive income $18,000 Required: Part 1(27 marks) The company is a Canadian public company. Prepare the Statement of Financial Position sheet at December 31, 2023 in good form. The categories are: Current Assets, Long-term Investments and Long-term Receivables, Property. Plant \& Equipment and Intangible Assets, Current Liabilities, Long-term liabilities and Shareholders Equity. Part 2 (18 marks) Prepare any journal entries you made to reflect the additional information. The following additional information is provided: 2. the allowance for doubtful accounts $9,200. 3. The net realizable value of the inventory that is included in the Balance Sheet is $95,000 The following items have not been recorded or included in inventory: - Papcowski bought inventory for $5,000 on December 27th, the terms are FOB shipping and the inventory arrived on January 3rd. - Papcowski sold inventory for $8,000 on December 28th, the terms are FOB destination and the customer received the inventory on January 4rd The cost of the inventory sold was $2,400 - Papcowski recerved inventory of $10,000 on consignment from Merrigold Inc 4. The investments section includes the following: - An interest bearing note receivable of $10,000 that was issued on October 1n,2023 beariag interest at 6% and is due on October 1,2024 - Long-term V-oCl investment $8,000 carrying value (fair value $12,000 at December 31,2023). Management plans on holding on to these investments for a number of years. FV-NI Investment 1,000 common shares of Lindon Inc. purchased at $7.00 per share (fair value $10.50 per share at December 31,2023). Papcowski expects to sell the shares as soon as the market price increases more next year. - Purchased 30% of Maroon Company. Papcowski purchased the shares for $15 each. Maroon company has 10,000 shares issued and outstanding. During the year the company declared and paid a dividend for $20,000 and the net income was $150,000. The fair value of the invertment $17 per share, Only the purchase has been recorded. 5. The land balance includes: land used for operations and recorded at its cost of $120,000 (the appraisal value of the land in 2023 was $500,000 ). The company doesn t use the revaluation model. Land held for future use was purchased at $80,000. The fair value of this land on December 31 st is $120,000. 6. The building originally cost $450,000 and it was purchased on January 1et,2023 and has a useful life of 20 years and a residual value of 50,000 . Depreciation has not been recorded for 2023. Accumulated depreciation is $0. 7. The license originally cost $25,000 and is being amortized over 5 years on a straight-line basis. Amortization for 2023 has not been recorded 8. Current liabilities include: Deferred revenue $40,000 Accounts payable $97,000 Wages payable $14,500 Notes payable 5 year 5% \$98,500 (19,700 is due in 2024) 9. Long-term labbilities include: Bank loan (5%, due in 10 years) $200,000 Pension obligation $310,000 other comprehensive income $18,000 Part1(27marks)Required: The company is a Canadian public company. Prepare the Statement of Financial Position sheet at December 31, 2023 in good form. The categories are: Current Assets, Long-term Investments and Long-term Receivables, Property, Plant \& Equipment and Intangible Assets, Current Liabilities, Long-term liabilities and Shareholders Equity. Part 2 (18 marks) Prepare any journal entries you made to reflect the additional information Question (50 marks) The bookkeeper for Papacowski Corp has prepared the following balance sheet as at December 31, 2023: The Ionowing additional information is provided: 3. The net realizable value of the unventory that is inchuded in the Balance Sheet is 595,000 The following items bave not been recorded or meluded un invempony: - Papcowsi boughr inventory for 55,000 on Decemiber 27t, the termis are FOB shipping and the inventory aumed on Jamuary 3Het - Papcowaki wold inventory for 58,000 on Docemiber 28'=, the terms are FOB destination and the customer teceived the mweritory on January 44. The cost of the inventory sold was - Papcowika recerved unventory of $10,000 on convigument from Mempold inc 4. The investments section includes the following - An interest bearing note recelvable of $10,000 that was issued on October 1Ht,2023 bearing interest at 6% and is due on October 1,2024 - Long-term FV-oci investment $8,000 carrying value ffair value $12,000 at December 31,2023). Management plans on holding on to these investments for a number of years: FV-N1 investment 1,000 common shares of Lindon inc. purchased at \$7.00 per share (fair value $10.50 per share at December 31,2023 ). Papcowski expects to sell the shares as soon as the market price increases more next year. - Purchased 30\% of Maroon Company. Papcowski purchased the shares for \$15 each. Maroon compary has 10,000 shares issued and outstanding. During the year the company declared and paid a dividend for $20,000 and the net income was $150,000. The fair value of the investment $17 per share. Only the purchase has been recorded. 5. The land balance includes: land used for operations and recorded at its cost of $120,000 (the appraisal value of the land in 2023 was $500,000). The company doesn't use the revaluation model. Land held for future use was purchased at $80,000. The fair value of this land on December 31 st is $120,000 6. The building origmally cost $450,000 and it was purchased on January 1 it 2023 and has a useful life of 20 years and a residual value of 50,000 . Depreciation bas not been recorded for 2023. Accumulated depreciation is So 7. The license originally cost $25,000 and is being amortized over 5 years on a stratght-line basis Amortization for 2023 has not been recorded 8. Current liabilities include Deferred revenue $40,000 Accounts payable 597,000 Wagen payable $14,500 Notes payable 5 year 5%6,598,500(19,700 is duc in 2024) 9. Lonz.term liabilities include Bank loan ( 5%. due in 10 years) $200,000 10. Shareholders Equiry includes: Common shares $50,000 Retained earnings $230,600 Accumulated other comprehensive income $18,000 Required: Part 1(27 marks) The company is a Canadian public company. Prepare the Statement of Financial Position sheet at December 31, 2023 in good form. The categories are: Current Assets, Long-term Investments and Long-term Receivables, Property. Plant \& Equipment and Intangible Assets, Current Liabilities, Long-term liabilities and Shareholders Equity. Part 2 (18 marks) Prepare any journal entries you made to reflect the additional information