Financial Accounting 1.docx - Financial Accounting 1 Name Year Program Date Indicate the proper classification or presentation of the items below Use

Financial Accounting 1.docx - Financial Accounting 1 Name...

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Financial Accounting 1 Name: Date: Year & Program: Indicate the proper classification or presentation of the items below. Use the following classifications: A. Current Assets B. Noncurrent Assets C. Current Liabilities D. Noncurrent Liabilities E. Equity F. Notes to financial statements Items 1. Financial assets held for trading 2. Investment in associates 3. Estimated warranty liability 4. Sinking fund for the payment of bond payable due next year 5. Installment accounts receivable, average normal collection period, 18 months 6. Leasehold improvement 7. Reserves 8. Share premium 9. Stock dividend payable 10. Trademark PROBLEM Easy Company provided the following information on December 31, 2015: Accounts Payable
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  • Spring '18
  • Balance Sheet, Generally Accepted Accounting Principles, Noncurrent Assets, 18 months

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