Classify each of the 15 items as: a. Current asset b. Property, plant & equipment c. Intangible
Question:
Classify each of the 15 items as:
a. Current asset
b. Property, plant & equipment
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: ____
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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Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0133428704
15th edition
Authors: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
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