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Which are assets for itay corp

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Reference no: EM132936312

Problem 1: Which of the following are assets for Itay Corp?

Option 1: $5,000 spent on a machine to milk cows (Itay owns a dairy).

Option 2: $1,000 spent on a stereo system for cows. Research has shown that cows produce more milk when they listen to classical music in the mornings.

Option 3: $1,000 spent to paint the barn Maize and Blue. Cows are color blind, but Itay is a big fan of Michigan and says he will enjoy work more this way. Most of his workers agree (except the one Ohio State fan).

Option 4: The $100 he pays the Ohio State to weed the front yard each Friday. He likes the farm to look good on Friday nights and Saturday mornings because lots of people drive by on the way to football games. He thinks they are more likely to buy milk if they see a neat yard.

Reference no: EM132936312

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