Chapter 3, Problem 3.4P

What would be a classified balance sheet as of December 31, 2021 for this problem?

The following are the typical classifications used in a balance sheet:          a. Current assets f. Current liabilities b. Investments g. Long-term liabilities c. Property, plant, and equipment h. Paid-in capital d. Intangible assets i. Retained earnings e. Other assets       Required:For each of the following 2021 balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.)  Interest Payable __ Franchise __ Accumulated Depreciation __ Prepaid Insurance (for 2022) __ Bonds Payable (due in 10 years) __ Current Maturities of Long-Term Debt __ Notes Payable (due in 3 months) __ Long-Term Receivables __ Restricted Cash (which will be used to retire bonds in 10 years) __ Supplies __ Machinery __ Land (used in operations) __ Deferred Revenue (for 2022) __ Copyrights __ Common Stock __ Land (held for speculation) __ Cash equivalents __ Salaries Payable __

Using the knowledge you have acquired in this course and as per guidance from IAS I and IPSAS 1, what would you consider a complete final Accounts ready for publication?     State what you would expect to find in the Notes to general purpose financial statements giving its rationale  ?