Which of the complying with would certainly be classified as a long-term operational asset? A) Accounts receivable. B) Treasury stock. C) Inventory. D) Machinery.
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Which of the complying with would certainly not be classified as a tangible irreversible asset? A) Delivery trucks B) Franchises C) Land also D) Oil and also gas reserves
Which of the following is not classified as Property, Plant and also Equipment? A) Computers B) Goodwill C) Machinery D) Office furniture
Which of the following terms is provided to determine the procedure of expense acknowledgment for structures and also equipment? A) Amortization B) Depletion C) Depreciation
On January 1, 2005 Franz Company kind of purchased a truck that expense $22,000. The truck had actually an expected valuable life of 5 years and also a $2,000 salvage worth. The amount of depreciation expense well-known in 2006 assuming that Franz provides straight-line depreciation is: A) $4,000.…
Evelyn Company type of purchased tools that cost $55,000 cash on January 1, 2005. The tools had an expected helpful life of 6 years and also an approximated salvage value of $4,000. Assuming that Evelyn depreciates its assets under the straight-line approach, the amount of depreciation expense a…
Clark Company passist cash to purchase equipment on January 1, 2005. Select the answer that shows exactly how the recognition of depreciation price in 2006 would affect assets, liabilities, equity, net income, and cash circulation (+ suggests increase, - decrease, and also NA not affected).
At the finish of the current audit duration, Rodgers Co. recorded depreciation of $25,000 on its tools. The effect of this enattempt on the company's balance sheet is to: A) decrease assets and increase liabilities. B) decrease owners' equity and rise …
T/F The depreciable cost of a irreversible asset is the distinction between the amount paid for the ascollection and also its salvage worth.
Merchandising businesses A) generate revenue by marketing products. B) include wholesale and also retail service providers. C) both A and also B
How is the balance sheet (not revenue statement) of a merchandising firm different from the balance sheet of a business business? A) It includes the ascollection, Accounts Receivable. B) It reports the expense of goods offered. C) It consists of the asset, Me…
Which of the complying with would certainly be mostly a merchandising business? A) Ruth Consulting B) Bonds Department Store C) Sosa Law Offices D) McGwire Accounting Service
Which of the complying with is not a duration cost? A) Advertising Expense B) Sales Comgoals C) Cost of Goods Sold
roduct expenses are likewise referred to as A) period costs. B) offering and also governmental costs. C inventory costs.
The Cost of Goods Sold account is classified as: A) an price. B) an ascollection. C) a revenue account. D) a licapability.
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T/F A perpetual inventory system updates the Merchandise Inventory account for all purchases of inventory but not for sales of inventory.