Question

acct hw help

QUESTION 15 Which of the following is not classified properly as a current asset? Debt investments A receivable from the sale of an asset to be collected in 1.5 years Supplies A fund to be used to purchase a building within the next year QUESTION 16 If total liabilities increased by $500, then assets must have increased by $500, or stockholders' equity must have decreased by $500. assets must have increased by $500. assets and stockholders' equity each increased by $250. stockholders' equity must have decreased by $500. ООО

Answer 1

Question 15:
Solution:
	Current assets are those assets which we can expect to convet in cash with in one year
	A receivable from the sale of assets to be collected in 1.5 Years so this is not a our current Assets
	Answer = Option 2
Question 16:
Solution:
	If total liabilities is increases by $ 500 than there must be assets also increases by $ 500
	or stockholder's Equity must have decreased by $ 500
	Answer = Option 1
Question 17:
Solution:
	Trademark is classified as an Assets for any company
	Answer = Option 1
Question 13:
Solution:
	Cash dividend paid is reduces from Retained earnings and retaiend earnings is part of
	stockholder's equity .
	So, Answer = Option 1
Question 14:
Solution:
	Answer = Option 2 = The Statement of Cash Flows