Intangible Assets: Intangible assets means assets which are exists but we not able to set eyes on it means intangible assets are invisible but still they are exist.
Equipment, Land & Building these three assets are visible and we can easily identify these assets
Copyright, this is as right on any things like if any unique product is made by any company than they can make copyright of that than then only can produced that article and things.
As per above explanation,
Answer = Option 4 = Lack of Physical Substance
nent Question 39 A key characteristic that separates intangible assets from assets such as property, plant...
The main difference between intangible assets and property, plant, and equipment is the length of the asset's life. O True O False
Patents and copyrights are current assets. property, plant, and equipment. intangible assets.
Intangible assets are the rights and privileges that result from ownership of long-lived assets that a)have been exchanged at a gain. b)must be generated internally. c)are depreciated over their useful life. d)do not have physical substance.
Intangible assets are Olisted directly under current assets on the balance sheet O not listed on the balance sheet because they do not have physical substance listed after property, plant, and equipment O listed as a long-term investment on the balance sheet
Long-term Investments Prepaid advertising Property, Plant, and Equipment Equipment Trademarks Intangible Assets Salaries and wages payable Current Liabilities Income taxes payable Current Liabilities Retained earnings Stockholders' Equity Current Assets Accounts receivable Property, Plant, and Equipment ÷ Land (held for future use) Patents Intangible Assets Bonds payable Current Liabilities Stockholders' Equity Common stock Accumulated depreciation-equipment Property, Plant, and Equipment Unearned sales revenue Long-term Investments Property, Plant, and Equipment Inventory
In which classified balance sheet section would patents be reported? Property, plant, and equipment Intangible assets Investments Current assets
Question 4 (1 point) Which of the following is a characteristic of property, plant and equipment? OIt is intangible It is used in the operations of a business It is held for sale in the ordinary course of business It is a long-term investment Question 5 (1 point) Which of the following best describes accumulated depreciation? It is used to show the amount of cost expiration of intangibles It is the same as depreciation expense It is a contra asset...
Cullumber Company has provided information on intangible assets
as follows.
A patent was purchased from Marin Company for $1,800,000 on January
1, 2019. Cullumber estimated the remaining useful life of the
patent to be 10 years. The patent was carried in Marin’s accounting
records at a net book value of $1,800,000 when Marin sold it to
Cullumber.
During 2020, a franchise was purchased from Bramble Company for
$510,000. In addition, 5% of revenue from the franchise must be
paid to...
Companies have a significant amount of investment in long-lived assets, which include property, plant, and equipment (commonly referred to as plant assets); and intangible assets. We will also discuss different types of liabilities and understand how to account for and report those liabilities. Plant assets have useful lives of one year or more. What plant assets did a current or former employer utilize?
A Current assets B. Investments C. Property, plant, and equipment D. Intangible assets E. Current liabilities F. Long-term liabilities G. Stockholders' equity H. Not on the balance sheet 1. Accumulated depreciation-equipment 2. Common stock 3. Interest expense 4. Salaries and wages payable m 5. Retained earnings 6. Inventory 7. Patents 8. Prepaid insurance 9. Mortgage payable 10. Land (held for investment)