Question

Indicate for each balance sheet item listed below the usual valuation reported on the balance sheet.

1.		Common stock
2.		Prepaid insurance
3.		Natural resources
4.		Property, plant, and equipment
5.		Accounts receivable
6.		Copyrights
7.		Inventory
8.		Long-term bonds payable
9.		Land (in use)
10.		Land (future plant site)
11.		Patents
12.		Equity investments (trading)
13.		Accounts payable

Options: Par value Current cost of replacement Amount payable when due, less unamortized discount or plus unamortized premium Amount payable when dueMarket value at balance sheet dateNet realizable value Lower of cost or net realizable value Original cost less accumulated amortization Original cost less accumulated depletion Original cost less accumulated depreciation Historical cost Unexpired or unconsumed cost

Answer 1

1.	Common stock	Par value
2.	Prepaid insurance	Unexpired or unconsumed cost
3.	Natural resources	Original cost less accumulated depletion
4.	Property, plant, and equipment	Original cost less accumulated depreciation
5.	Accounts receivable	Amount payable when due Market value at balance sheet date Net realizable value
6.	Copyrights	Original cost less accumulated amortization
7.	Inventory	Lower of cost or net realizable value
8.	Long-term bonds payable	Amount payable when due, less unamortized discount or plus unamortized premium
9.	Land (in use)	Historical cost
10.	Land (future plant site)	Historical cost
11.	Patents	Original cost less accumulated amortization
12.	Equity investments (trading)	Current cost of replacement
13.	Accounts payable	Amount payable when due Market value at balance sheet date Net realizable value

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