Classify each of the 15 items as: a. Current asset b. Property, plant & equipment c. Intangible

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Classify each of the 15 items as:

a. Current asset

b. Property, plant & equipment

c. Intangible assets

d. Current liability

e. Long-term liability

f. Stockholders' equity

g. Revenue

h. Operating expense

i. Other expense

j. None of the above 

A letter may be used more than once.

1. Accumulated depreciation:

2. Cost of goods sold: ___

3. Machinery used in the factory: ____

4. Income taxes payable: ____

5. Sales: ____

6. Accounts receivable: ____

7. Retained earnings: ____

8. Interest expense: ____

9. Dividends paid: ____

10. Bonds payable (due in three years): ____

11. Copyright: ____

12. Account Payable: ____

13. Inventory: ____

14. Cash: ___

15. Patent: ____


Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented...
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Cost Accounting A Managerial Emphasis

ISBN: 978-0133428704

15th edition

Authors: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan

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