User Account

All Pages

Classification as a current asset

Assignment Help Accounting Basics
Reference no: EM13151228

Which of the following should not be classified as a current asset?

a) A one year installment receivable from the sale of a truck

b) An investment expected to be needed for operations in the next year

c) A one-year prepaid insurance policy

d) A fund to be used to purchase land

Reference no: EM13151228

Questions Cloud

Possession of the purse and its contents : Assuming Jackie never returns to claim the purse, who gets possession of the purse and its contents, assuming the purse is (a) lost, (b) mislaid, or (c) abandoned?
What are the potential consequences of ignoring emergent : What is the difference between deliberate strategies and emergent strategies? How might emergent help with a future strategic planning process? what are the potential consequences of ignoring emergent strategies?
What is the freezing point of a solution : What is the freezing point of a solution of aluminum chloride that contains 42.0 g AlCl3 dissolved in 530. g of water?
Us government managed to accumulate : Explain how the US government managed to accumulate a debt of over 14 trillion. To whom does it owe this debt? Is the debt a burden on future generations?
Classification as a current asset : Which of the following should not be classified as a current asset? a) A one year installment receivable from the sale of a truck b) An investment expected to be needed for operations in the next year c) A one-year prepaid insurance policy d) A fund ..
Us government managed to accumulate : Explain how the US government managed to accumulate a debt of over 14 trillion. To whom does it owe this debt? Is the debt a burden on future generations?
Explain why your friend chose selenium to replace sulfur : your friend is intrigued by a recent report of a new species of bacteria that used arsenic instead of phosphate within their DNA. this report spurs his curiosity about alternative life chemistries. he decides to test whether he can find a life fro..
Explain traditional method and web-based self-paced method : Different methods - a traditional method, and a web-based self-paced method. Can he conclude, at α = .05, that the test scores in the web-based self-paced method are lower?
How much time will it take for the water heater to heat : How much time (in minutes) will it take for the water heater to heat the 5.5 Liters of water from 23 Celsius to 49 Celsius?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Non-recurring expenses on income statement

When normalizing operating results, non-recurring expenses that are reported within SG&A, CGS or other expense line items on a company's income statement:

  Basics of statement of cash flows

Focus on cash and cash equivalents. Why did cash change during 2007? The statement of cash flows holds the answer to this question. Analyze the seven largest individual items on the statement of cash flows (not the summary subtotals such as "net c..

  Single step income statement and retained earnings statement

The following information was taken from the records of Roland Carlson Inc. for the year 2007. Income tax applicable to income from continuing operations $187,000-Prepare a single-step income statement for 2007. Prepare a retained earnings statemen..

  Right of business type activities

In government wide financial statements information about fiduciary funds should be presented in a discrete column to the right of the business type activities

  Company bulletin board system

A new sales representative, Mark Yount, has just received this copy of the month-end fincnail reports. He is puzzled by the term "unearned revenue." He left the following email message for you on the company's bulletin board system: What is this?

  Journal entries-inventory valuation

Prepare the journal entries required at December 31, 2007 and at December 31, 2008 assuming that a perpetual inventory system and the direct method of adjusting to market is used.

  What volume of sales required to achieve target profit

Shah, Inc. produces a product that has a variable cost of $6.00 per unit. The company's fixed costs are $30,000. The product sells for $10.00 a unit and the company desires to earn a $20,000 operating profit. What is the volume of sales in units r..

  Foreign currency transactions-foreign currency translation

What are the differences between fair value can flow and foreign currency hedges? What is the difference between accounting for foreign currency transactions and foreign currency translation?

  Operating income and net book value of assets

Calculate the ROI for Hercules. Use operating income and net book value of assets as the measures for income and investment respectively.

  What is ellen self-employed health insurance deduction

Ellen supports her family as a self-employed attorney. She reports $90,000 of income on her Schedule C and pays $8,000 on health insurance for her family.

  How would one record assets transferred by a parent

Assuming no impairment in value prior to transfer, how would one record assets transferred by a parent company to another entity it has created on the newly created entity's books?

  Relative advantages of partnership

What are the relative advantages of partnership versus limited partnership as a form of doing business? What legal principles are most likely to bite partnerships?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd