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Please ensure each point if instruction and question are answered. No skipping answerStrictly

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Please ensure each point if instruction and question are answered. No skipping answerStrictly
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Answered Same Day Oct 25, 2020

Solution

Ashish answered on Nov 01 2020
165 Votes
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Financial Statement
Financial statements are reports prepared by a company’s management to present the financial performance and position at a point in time. A general-purpose set of financial statements usually includes a balance sheet, income statements, statement of owner’s equity, and statement of cash flows. These statements are prepared to give users outside of the company, like investors and creditors, more information about the company’s financial positions.
Financial Statement
*
    Account Classification    Account Number    Account Type    Account Number    Sub Account Name    Account Number    Sub Account Name
    Balance Sheet    1000    Assets    1100    Cu
ent Assets    1110    Cash
                                                      1120    Trade Debtors
                                                      1130    Interest Recievable
                                                      1140    Marketable Securities
                                                      1150    Inventory
                                                      1160    Prepaid Rent
                                                      1170    Defe
ed Tax Assets
                                            Non-Cu
ent Assets    1210    Land and building (at cost)
                                                      1220    Plant and equipment (at cost)
                                                      1230    Accumuated depreciation-Plant/Equip
                                                      1240    Goodwill
              2000    Liabilities    2100    Cu
ent Liabilities    2110    Trade creditors
                                                      2120    Accured commissions payable
                                                      2130    Unearned revenue
                                                      2140    Income tax payable
                                                      2150    Accured wages...
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