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A first-year accounting student is confused by a statement made in a recent class. Her instructor stated that the assets listed in the balance sheet of the IBM Corporation include computers that are classified as current assets as well as computers that are classified as noncurrent assets. In addition, the instructor stated that investments in marketable securities of other corporations could be classified in the balance sheet as either current or noncurrent assets.
Required:
Explain to the student the distinction between current and noncurrent assets pertaining to the IBM computers and the investments in marketable securities.
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total current assets are worth 237513 at book value and 191299 at market value. in addition plant and equipment has a
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This material also is included in AF's Registration Document 2010-11,dated June 15, 2011 and is available at www.airfranceklm.com.
Assume that you have joined the audit staff at Haskell & White and the partners seek
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merchandising transactions perpetual inventory system record in t account form the sarah company engaged in the
consider two firms that are identical except the method of financing. firm u has no debt and firm l has 20 million of
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