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Assume that Lee Inc has the following accounts at the end of the current year Common Shares 2 Raw Materials Inventory 3 FV-OCI Investments 4 Unearned Rent Revenue 5 Work-in-Process Inventory

Assume that Lee Inc. has the following accounts at the end of the current year: 1. Common Shares 2. Raw Materials Inventory 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 (includes Restricted Cash-see item 12) 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 (earned in the next year) 17. Accounts Receivable-Officers (due in one year) 18. Finished Goods Inventory 19. Accounts Receivable 20. Bonds Payable (due in four years) 21. Accounts Payable 22. Goodwill Instructions Prepare a classified statement of financial position in good form (no monetary amounts are necessary).

 

May 14 2020 View more View Less

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