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Baron Coburg Case

Whose financial statements should we prepare (e. g. , the baron, vassals, farms, etc..? ) In this case I believe the financial statements should be prepared for each Farm (Piece of Land). My reasoning for this is that each section of land is the entity that is generating the ‘product’. The Vassal is acting as the resource that is managing it. In a current context, one would produce financial statements for a company (the Farm in our case) and not the individual resource or resources in control of the company. 2. What financial statements should we prepare? a. Balance Sheets for both before and after the ‘growing season’ – This will allow us to determine the assets provided to each…