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) trustworthy assets(b) Investments(c) Property, plant, and equipment(d) Intangible assets (e) Other assets(f) Current liabilities(g) Non-current liabilities(h) punk stock (i) Additional paid-in capitalInstructions: Indicate by letter where all(prenominal) 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 dubitable accountsa 10. Accounts receivablea 11. Cash surrender value of life restitutionb 12. Notes payable (due beside year)f 13. Suppliesa 14. h bingley oil stockh 15. Landc 16. Bond drop fundb 17. Inventorya 18. Prepaid indemnificationa 19. Bonds payableg 20.

Income levy 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 caudex.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 dependent for Plant Expansion. Cash.Accounts Receivable. feat in Process.Accumulated DepreciationBuildings. Notes Receivable (short-term).Land Held for future(a) Plant Site. Bonds Payable (due in 4 years).ReceivablesOfficers (due in one and on ly(a) year). Unearned...If you want to get ! a full essay, order it on our website: BestEssayCheap.com

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