Identify the following assets a through h as reported on the balance sheet as intangible assets (IA), natural resources (NR), or other (O) a Oil well b Trademark c Leasehold d Gold mine e Building f Copyright g Franchise h Timberland ...

a Oil well NR b Trademark IA c ...

Identify the following assets a through h as reported on the balance sheet as intangible assets (IA),

Question:

Identify the following assets a through h as reported on the as (IA), natural resources (NR), or other (O).
a. Oil well
b. Trademark
c. Leasehold
d. Gold mine
e. Building
f. Copyright
g. Franchise
h. Timberland
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... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...