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

Question:

Identify the following assets a through i 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
____ i. Salt mine

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...