how would a warehouse that is not being used in the business and is being held...
how would a warehouse that is not being used in the business and is being held for sale be classified on the balance sheet?
Homework Answers
Held for sale assets are long -lived assets for
which a company has a concrete plan to dispose of the asset by
sale. They are carried on balance
sheet under non current assets at the lower of carrying
value or fair value and no depreciation is charged on them.
Specific disclosures are also required for disposals of non-current
assets.
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how would a warehouse that is not being used in the business and
is being held...
In footnotes to its 2016 annual report, Bancfirst Corp. reported that held-to-maturity debt securities with an...
In footnotes to its 2016 annual report, Bancfirst Corp. reported that held-to-maturity debt securities with an amortized cost of $4,365 thousand had an estimated fair value of $4,403 thousand. a. What amount does Bancfirst report on its 2016 balance sheet for these held-to-maturity securities? b. If these debt securities had instead been classified as available-for-sale securities, how would Bancfirst’s pretax income have been affected
TOPIC Business and Government THESIS STATEMENT Some aspect of how the internet is being used by...
TOPIC Business and Government THESIS STATEMENT Some aspect of how the internet is being used by businesses and government organizations to save money and advance their objectives Progress Report?
Inventories are asset items held for sale in the ordinary course of business or goods that...
Inventories are asset items held for sale in the ordinary course of business or goods that will be used or consumed in the production of goods to be sold. What do you think?
A business might form a data warehouse from any number of data sources. Of the following,...
A business might form a data warehouse from any number of data sources. Of the following, which would not be such a data source? A) all of the above would be used to form the data warehouse B) human resource records C) customer feedback D) customer records E) inventory, supply chain and sales records
basic financial statement or description of balance sheet and two examoles how manager used this how...
basic financial statement or description of balance sheet and two examoles how manager used this how does managers used balance sheet? describe the principals and how balance sheet is used on business?
Which of the following assets held by a manufacturing business is not a Section 1231 asset?...
Which of the following assets held by a manufacturing business is not a Section 1231 asset? a. Inventory b. A machine used in the business and held for more than one year. c. A factory building used in the business and held for more than one year. d. Land used in the business and held for more than one year.
15 During April of the current year, Ronen purchased a warehouse that he used for business...
15 During April of the current year, Ronen purchased a warehouse that he used for business purposes. The basis was $1,602,000 Calculate the maximum depreciation deduction during the current year. (Use MACRS Table 5.) (Round final answer to the nearest whole number) Essay Toolbatrition BI SE 3 . AA 1.12.06
Which of the following investment securities held by Google Inc. may be classified as held-to-maturity securities in its balance sheet?
Which of the following investment securities held by Google Inc. may be classified as held-to-maturity securities in its balance sheet? All of these answer choices are correct. None of these answer choices are correct. Common stock Long-term debenture bonds Callable preferred stock
TRUE/FALSE Long-lived assets that are tangible in nature, used in the operations of the business, and...
TRUE/FALSE Long-lived assets that are tangible in nature, used in the operations of the business, and not held for sale in the ordinary course of business are called fixed assets. True False The acquisition costs of property, plant, and equipment should include all normal, reasonable and necessary cost to get the asset in place and ready for use. True False When land is purchased to construct a new building, the cost of removing any structures on the land should be...
Premium on Bonds Payable is a balance sheet item for Ohio Products Company. How would it...
Premium on Bonds Payable is a balance sheet item for Ohio Products Company. How would it most likely be classified on the balance sheet? a.Long-term asset b.An increase to a long-term liability c.Contra liability d.Revenue
15 During April of the current year, Ronen purchased a warehouse that he used for business purposes. The basis was $1,602,000 Calculate the maximum depreciation deduction during the current year. (Use MACRS Table 5.) (Round final answer to the nearest whole number) Essay Toolbatrition BI SE 3 . AA 1.12.06
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