Ac550 Intermediate Accounting I Week 3

Chapter 5: E 5-2, E 5-4, E 5-12, E 5-13, P 5-2 E5-2 (Classification of Balance Sheet Accounts) Presented below are the captions of Nikos Companys balance sheet. (a) topical assets(b) Investments(c) Property, plant, and equipment(d) Intangible assets (e) Other assets(f) Current liabilities(g) Non-current liabilities(h) sashay stock (i) Additional paid-in capitalInstructions: Indicate by letter where from each cardinal of the following items would be classified. Answer: 1. best-loved stockh 2. Goodwilld 3. Salaries and wages duef 4. Accounts payablef 5. Buildingsc 6. Equity investments (trading)a 7. Current portion of long-term debtf 8. Premium on bonds payableg 9. Allowance for uncertain accountsa 10. Accounts receivablea 11. Cash surrender value of life restitutionb 12. Notes payable (due side by side(p) year)f 13. Suppliesa 14. h bingley oil stockh 15. Landc 16. Bond drop fundb 17. Inventorya 18. Prepaid indemnificationa 19. Bonds payableg 2 0.

Income revenue enhancement payablef E5-4 (Preparation of a Classified Balance Sheet) Assume that Gulistan Inc. has the following accounts at the end of the current year. Common rake.Discount on Bonds Payable. treasury Stock (at cost).Notes Payable (short-term). Raw Materials.Unearned Rent Revenue. contain Earnings.Salaries and Wages Payable. Copyrights.Buildings.Finished Goods.Cash cut back for Plant Expansion. Cash.Accounts Receivable. feat in Process.Accumulated DepreciationBuildings. Notes Receivable (short-term).Land Held for future Plant Site. Bonds Payable (due in 4 years).ReceivablesOfficers (due in one year). Unearned...If you want t! o get a full essay, order it on our website: BestEssayCheap.com

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