Which of the following is not a long-term investment? a) Noncurrent receivables b) Equipments c) Land...
Which of the following is not a long-term investment?
a) Noncurrent receivables
b) Equipments
c) Land held for speculation
d) A sinking fund
Homework Answers
Long term investment includes non current receivables, Land held for speculation and a sinking fund.
Equipment is property, plant and equipment
So answer is b) Equipments
Add Answer to:
Which of the following is not a long-term
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For Pharoah, the following information is available: $685,000 Machinery Trademarks Long-term receivables 268,000 221,000 In Pharoah's...
For Pharoah, the following information is available: $685,000 Machinery Trademarks Long-term receivables 268,000 221,000 In Pharoah's balance sheet, intangible assets should be reported at which amount? a) $906,000 b) $268,000 c) $953,000 d) $489,000
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please complete both tables
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Ch 15 Demo Problems QS 15-1 Distinguishing between short- and long-term investments C1 Which of the following statements are true oflong-term investments? ,a. They can be considered cash equivalents. b. They can include assets not used in operations, such as investments in land. c. They generally include investments that will mature in 3 to 12 months. d. They are reported with noncurrent assets on the balance sheet. e. They are always easily sold and therefore qualify as being marketable. f....
2. Green, Inc., a C corporation, distributes a tract of land held as an investment (FMV S500,000,...
Please show your work.
2. Green, Inc., a C corporation, distributes a tract of land held as an investment (FMV S500,000, basis $220,000) and its mortgage of $550,000 to Susan in return for 50 of her shares at the end of the year. Green, Inc. has a current E&P of $190,000 for the year, and started the year an accumulated E & P of $60,000. Green's marginal tax rate is 21%. Susan has an individual marginal tax rate of 33%...
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Which of the following is considered part of the asset classification Long-Term Investments? A. B. C. D. A building housing a company's administrative activities. Cash equivalents. A sinking fund established to retire bonds payable maturing in 20 years. Securities classified as held-to-maturity that mature within the next 12 months. Which of the following events related to accounts receivable causes a decrease to total assets? B. C. D. A write-off of an account receivable. A collection of an account receivable. A...
For Pharoah, the following information is available: $685,000 Machinery Trademarks Long-term receivables 268,000 221,000 In Pharoah's balance sheet, intangible assets should be reported at which amount? a) $906,000 b) $268,000 c) $953,000 d) $489,000
Which of the following would be a long term asset account? Revenues Land Common Stock
please complete both tables
Check my work a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Paid-in capital i. Retained earnings 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.) nces Equipment Accounts payable Allowance for uncollectible accounts Land (hold for...
Ch 15 Demo Problems QS 15-1 Distinguishing between short- and long-term investments C1 Which of the following statements are true oflong-term investments? ,a. They can be considered cash equivalents. b. They can include assets not used in operations, such as investments in land. c. They generally include investments that will mature in 3 to 12 months. d. They are reported with noncurrent assets on the balance sheet. e. They are always easily sold and therefore qualify as being marketable. f....
Please show your work.
2. Green, Inc., a C corporation, distributes a tract of land held as an investment (FMV S500,000, basis $220,000) and its mortgage of $550,000 to Susan in return for 50 of her shares at the end of the year. Green, Inc. has a current E&P of $190,000 for the year, and started the year an accumulated E & P of $60,000. Green's marginal tax rate is 21%. Susan has an individual marginal tax rate of 33%...
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