Presented below are the captions of Nikos Companys balance sheet. (a) Current assets. (b) Investments. (c) Property,
Question:
(a) Current assets.
(b) Investments.
(c) Property, plant, and equipment.
(d) Intangible assets.
(e) Other assets.
(f) Current liabilities.
(g) Non-current liabilities.
(h) Capital stock.
(i) Additional paid-in capital.
(j) Retained earnings.
Instructions
Indicate by letter where each of the following items would be classified.
1. Preferred stock.
2. Goodwill.
3. Salaries and wages payable.
4. Accounts payable.
5. Buildings.
6. Equity investments (trading).
7. Current portion of long-term debt.
8. Premium on bonds payable.
9. Allowance for doubtful accounts.
10. Accounts receivable.
11. Cash surrender value of life insurance.
12. Notes payable (due next year).
13. Supplies.
14. Common stock.
15. Land.
16. Bond sinking fund.
17. Inventory.
18. Prepaid insurance.
19. Bonds payable.
20. Income tax payable.
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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