Question

ldentify the following assets a through h as reported on the balance sheet as intangible assets, natural resources, or other

ldentify the following assets a through h as reported on the balance sheet as intangible assets, natural resources, or other. 

a.Customer List
b.Gas Field
c.Patent
d.Salt mine
e.Gold Mine
f.Building
g.License
h.Leasehold Improvement
i.Trade Name


1 0
Add a comment Improve this question Transcribed image text
Answer #1
a) Customer list intangible
b) Gas field natural resources
c) patent intangible
d) Salt mine natural resources
e) Gold mine natural resources
f) Building other
g) Licencse intangible
h) leasehold inprovement intangible
i) trade name intangible
Add a comment
Know the answer?
Add Answer to:
ldentify the following assets a through h as reported on the balance sheet as intangible assets, natural resources, or other
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Identify the following as intangible assets, natural resources, or some other asset. a. Franchise b. Software Leasehold...

    Identify the following as intangible assets, natural resources, or some other asset. a. Franchise b. Software Leasehold d. License e. Coal mine f. Salt mine g. Trademark h. Oilfield i. Noncompete covenant

  • Problem 8. Identify the balance sheet classification of each of the following assets by placing an...

    Problem 8. Identify the balance sheet classification of each of the following assets by placing an X in the correct classification: Plant Assets, Natural Resources, or Intangibles. Natural Intangible Plant assets Resources Assets a. Trademark b.Oil field c. Gold mine d.Building e.Franchise f. Timberland g.Patent h. Land i.Copyright lj. Leasehold Problem 2: On April 1 of the current year, a company purchased and placed in service a machine with a cost of $240,000. The company estimated the machine's useful life...

  • practice exam questions , help would be really appreicated and returned with a thumbs up!! thanks...

    practice exam questions , help would be really appreicated and returned with a thumbs up!! thanks in advance Help Save Warner Company's year-end unadjusted trial balance shows accounts receivable of $112,000, allowance for doubtful accounts of $730 (credit), and sales of $410,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles. View transaction list Journal entry worksheet Record the estimate of uncollectibles. Note: Enter debits before credits. Debit Credit General...

  • Flannery Company engages In the exploration and development of many types of natural resources. In the...

    Flannery Company engages In the exploration and development of many types of natural resources. In the last two years, the company has engaged In the following activities Jan Year 1 Purchased for $28e,980 a silver mine estimated to contain 828,880 tons of silver ore July , Year 1 Purchased for $2,898,8ee cash a tract of land containing timber estimated to yield 3,848,8e8 board feet of lumber At the time of purchase, the land had an appraised of $179,88 Feb. 1,...

  • Balance Sheet Classification a. Current assets. g. Long-term liabilities. b. Investments h. Paid-in capital. c. Property,...

    Balance Sheet Classification a. Current assets. g. Long-term liabilities. b. Investments h. Paid-in capital. c. Property, plant, and equipment. i. Retained earnings. d. Intangible assets. j. Accumulated other comprehensive income. e. Other assets. k. Noncontrolling interests. f. Current liabilities. Classification Contra account Balance Sheet Item 1. Accumulated depreciation. 2. Bonds payable (due in 10 years). 3. Accounts payable (trade). 4. Investment in stock of another company (long-term holding). 5. Land (in use). 6. Accumulated unrealized gain on foreign currency translation...

  • Determining ending balances of accounts on the consolidated balance sheet Assume that the parent company acquires...

    Determining ending balances of accounts on the consolidated balance sheet Assume that the parent company acquires its subsidiary by exchanging 55,000 shares of its Common Stock, with a market value on the acquisition date of $40 per share, for all of the outstanding voting shares of the investee. In its analysis of the investee company, the parent values all of the subsidiary's assets and liabilities at an amount equaling their book values except for a building that it feels is...

  • The following are the typical classifications used in a balance sheet: b. Current assets Investments Property,...

    The following are the typical classifications used in a balance sheet: b. Current assets Investments Property, plant, and equipment Intangible assets Other assets f. Current liabilities Long-term liabilities h. Paid-in capital i. Retained earnings d. Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) 1. 10. 2. 11. 3. 12. 4. 13. 5. Equipment Accounts...

  • Classifying Balance Sheet Accounts Use the letters a to k from the balance sheet classifications provided...

    Classifying Balance Sheet Accounts Use the letters a to k from the balance sheet classifications provided below to indicate the usual classification for each of the 22 balance sheet items listed below. Also indicate whether an account is a contra account. If the item is not a contra account, select "N/A" as your answer.. Balance Sheet Classification a. Current assets. g. Long-term liabilities. b. Investments. h. Paid-in capital. c. Property, plant, and equipment. i. Retained earnings. d. Intangible assets. j....

  • 143 CHAPTER 3 The Balance Sheet and Financial Disclosures The following are the typical classifications used...

    143 CHAPTER 3 The Balance Sheet and Financial Disclosures The following are the typical classifications used in a balance sheet: a. Current assets f. Current liabilities b. Investments g. Long-term liabilities c. Property, plant, and equipment h. Paid-in capital d. Intangible assets i. Retained earnings e. Other assets Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification cate- gory. If the item is a contra account, place a minus sign before...

  • Explain briefly how each of the following transactions would affect a company’s balance sheet. Remember, assets...

    Explain briefly how each of the following transactions would affect a company’s balance sheet. Remember, assets must equal liabilities plus owners’ equity before and after the transaction. a) Sale of used equipment with a book value of $300,000 for $500,000 cash. b) Purchase of a new $80 million building, financed 40 percent with cash and 60 percent with a bank loan. c) Purchase of a new building for $60 million cash. d) A $40,000 payment to trade creditors. e) A...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT