For Each of the Following, Identify in Column 1 the Category

question 17

Essay

For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, and in column 3 the financial statement on which the account balance is reported.
- $$\begin{array} { | l | l | l | l | } \hline & \text { Column } 1 & \text { Column } 2 & \text { Column } 3 \\\hline \text { Sales Tax Payable } & & & \\\hline\end{array}$$

Understand the factors that determine the optimal portfolio for an investor.

Calculate expected retirement savings based on given investment strategies.

Understand the new accounting standards for leases (AASB 16/IFRS 16) and their requirements.

Calculate lease receivable amounts at the inception of a lease.

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Definitions:

Financial Statements

Formal records of financial activities and position of a business, person, or other entity, presenting the financial results over a specific period.

Forfeited Shares

Shares that are surrendered or taken back by a company from an investor because of the non-fulfillment of purchase conditions or agreements.

Reissue

The process of issuing again, such as reissuing shares or securities that have been bought back or cancelled.

Share Capital

The money that a company raises through the issue of shares, representing the capital invested by shareholders.