Question : 87.All of the following examples of intangible assets, except a. goodwill. b. : 1244341

87.All of the following are examples of intangible assets, except

 

a.

goodwill.

b.

trademarks.

c.

franchises.

d.

coal mines.

 

 

 

88.A company should classify land held for a planned manufacturing facility as

 

a.

a current asset.

b.

an intangible asset.

c.

an investment.

d.

property, plant, and equipment.

 

 

 

89.Which of the following should be classified as an intangible asset?

 

a.

Franchises

b.

Accounts receivable

c.

Land held for future use

d.

Accumulated depreciation

 

 

 

90.A corporation’s stockholders’ equity section of the balance sheet may contain all but which of the following?

 

a.

Additional paid-in capital

b.

Common stock

c.

T. McDonald, capital

d.

Retained earnings

 

 

 

91.The owner’s capital for a sole proprietorship is similar in nature to which of the following for corporations?

 

a.

Dividends

b.

Stockholders’ equity

c.

Common stock

d.

Retained earnings

 

 

 

92.Use this information to answer the following question.

 

J. & B. Auto Parts, Inc.

Balance Sheet

December 31, 20×7

Assets

Cash

 

$50,000

 

Short-term investments

 

40,000

 

Notes receivable (due in ten months)

 

30,000

 

Accounts receivable

 

20,000

 

Merchandise inventory

 

70,000

 

Land held for future use

 

80,000

 

Land

 

90,000

 

Building

$100,000

 

 

   Less accumulated depreciation

20,000

80,000

 

Trademark

 

70,000

 

Total assets

 

 

$530,000

 

 

 

 

Liabilities

Notes payable (due in six months)

 

$50,000

 

Accounts payabe

 

20,000

 

Salaries payable

 

10,000

 

Mortgage payable (due in seven years)

 

90,000

 

Total liabilities

 

 

$170,000

 

 

 

 

Stockholder’s Equity

Common stock

 

$300,000

 

Retained earnings

 

60,000

 

Total stockholder’s equity

 

 

360,000

Total liabilities and stockholder’s equity

 

 

$530,000

 

 

The total dollar amount of assets to be classified as current assets is

 

a.

$160,000.

b.

$210,000.

c.

$260,000.

d.

$180,000.

 

 

 

93.Use this information to answer the following question.

 

J. & B. Auto Parts, Inc.

Balance Sheet

December 31, 20×7

Assets

Cash

 

$ 60,000

 

Short-term investments

 

40,000

 

Notes receivable (due in ten months)

 

30,000

 

Accounts receivable

 

20,000

 

Merchandise inventory

 

70,000

 

Land held for future use

 

90,000

 

Land

 

90,000

 

Building

$100,000

 

 

 

Less accumulated depreciation

   20,000

80,000

 

Trademark

 

  70,000

 

Total assets

 

 

$550,000

 

Liabilities

Notes payable (due in six months)

 

$ 50,000

 

Accounts payable

 

20,000

 

Salaries payable

 

10,000

 

Mortgage payable (due in seven years)

 

100,000

 

Total liabilities

 

 

$180,000

 

 

 

 

Stockholders’ Equity

Common stock

 

$310,000

 

Retained earnings

 

  60,000

 

Total stockholders’ equity

 

 

  370,000

Total liabilities and stockholders’ equity

 

 

$550,000

 

The total dollar amount of assets to be classified as investments is

 

a.

$0.

b.

$110,000.

c.

$90,000.

d.

$190,000.

 

 

 

 

 

 

 

 

 

 

 

94.Use this information to answer the following question.

 

J. & B. Auto Parts, Inc.

Balance Sheet

December 31, 20×7

Assets

Cash

 

$ 70,000

 

Short-term investments

 

40,000

 

Notes receivable (due in ten months)

 

30,000

 

Accounts receivable

 

20,000

 

Merchandise inventory

 

70,000

 

Land held for future use

 

80,000

 

Land

 

80,000

 

Building

$100,000

 

 

 

Less accumulated depreciation

   20,000

80,000

 

Trademark

 

  70,000

 

Total assets

 

 

$540,000

 

Liabilities

Notes payable (due in six months)

 

$ 50,000

 

Accounts payable

 

20,000

 

Salaries payable

 

10,000

 

Mortgage payable (due in seven years)

 

  90,000

 

Total liabilities

 

 

$170,000

 

 

 

 

Stockholders’ Equity

Common stock

 

$310,000

 

Retained earnings

 

  60,000

 

Total stockholders’ equity

 

 

  370,000

Total liabilities and stockholders’ equity

 

 

$540,000

 

The total dollar amount of assets to be classified as property, plant, and equipment is

 

a.

$180,000.

b.

$230,000.

c.

$310,000.

d.

$160,000.

 

 

 

95.An investment is classified as short term or long term based on

 

a.

the dollar amount of the investment.

b.

the length of time the investor expects to hold it.

c.

whether the investment can be sold immediately.

d.

the length of time it has been held.

 

 

 

 

96.Which of the following appears on the balance sheet?

 

a.

Net sales

b.

Income taxes

c.

Interest income

d.

Merchandise inventory

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more