Problem 2-2. Nature of financial instruments. (LO a)Refer to the list below:1. Cash in bank.2. Accounts receivables.14. Accounts payable.15. Estimated warranty obligations.16. Income tax payable.17. Unearned rent revenue.18. Interest rate swap payable.19. Bonds payable.3. Merchandise inventories.4. Prepaid rent.5. Equity investment – held for trading.6. Equity investment – associate.7. Debt investment – amortized cost.8. Investment in subsidiary.9. Forward contract receivable.10. Gold bullion.20. Deferred tax liabilities.21. Issued ordinary shares.22. Redeemable preference shares.23. Share warrants outstanding.11. Biological asset.12. Property, plant, and equipment13. Intangible asset.24. Treasury shares.25. Share appreciation rights payable.Requirement:For each of the items above, identify whether an item is a financial asset (FA), non-financial asset (NFA), financialliability (FL), non-financial liability (NFL), or equity instrument (E).

Financial statements items Financial Assets Cash in bank Account Receivable Merchandise…

Answered: 1. Cash in bank. 14. Accounts payable.…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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