uagm.blackboard.com Assignments - INTERMEDIATE ACCOUNTING I https://uagm.blackboard.com/bbcswebdav/pid-10308088-dt-content-.. My Questions I bartleby C. Current Assets less Current Liabilities d. Liquid Assets less Liquid Liabilities 34. Which is classified as a long-term investment? a. bond issue costs b. cash surrender value of life insurance C. capital lease d. three-year prepaid insurance policy 35.Justification for having both intangible assets and other assets listed on a balance sheet include a. that intangible assets have no physical existence and other assets are deferred charges b. that having more items listed on the balance sheet improves the users' understanding of the company that the intangible assets are more important than the tangible assets d. that the other asset classification is important because goodwill cannot be amortized, so it needs to be recorded on the balance sheet C. 36. Under which of the following conditions would hurricane damage be considered an extraordinary item for financial reporting purposes?
uagm.blackboard.com Assignments - INTERMEDIATE ACCOUNTING I https://uagm.blackboard.com/bbcswebdav/pid-10308088-dt-content-.. My Questions I bartleby C. Current Assets less Current Liabilities d. Liquid Assets less Liquid Liabilities 34. Which is classified as a long-term investment? a. bond issue costs b. cash surrender value of life insurance C. capital lease d. three-year prepaid insurance policy 35.Justification for having both intangible assets and other assets listed on a balance sheet include a. that intangible assets have no physical existence and other assets are deferred charges b. that having more items listed on the balance sheet improves the users' understanding of the company that the intangible assets are more important than the tangible assets d. that the other asset classification is important because goodwill cannot be amortized, so it needs to be recorded on the balance sheet C. 36. Under which of the following conditions would hurricane damage be considered an extraordinary item for financial reporting purposes?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Solve #35 please
Transcribed Image Text:A uagm.blackboard.com
Assignments - INTERMEDIATE ACCOUNTING I
https://uagm.blackboard.com/bbcswebdav/pid-10308088-dt-content-..
My Questions | bartleby
Current Assets less Current Liabilities
d. Liquid Assets less Liquid Liabilities
С.
34. Which is classified as a long-term investment?
a.
bond issue costs
b. cash surrender value of life insurance
C. capital lease
d. three-year prepaid insurance policy
35.Justification for having both intangible assets and other assets listed on a balance sheet include
a. that intangible assets have no physical existence and other assets are deferred charges
b. that having more items listed on the balance sheet improves the users' understanding of the company
C. that the intangible assets are more important than the tangible assets
d. that the other asset classification is important because goodwill cannot be amortized, so it needs to be
recorded on the balance sheet
36. Under which of the following conditions would hurricane damage be considered an extraordinary item
for financial reporting purposes?
a.
Under any circumstances hurricane damages should be classified as an extraordinary item
Expert Solution
INTRODUCTION
TANGIBLE ASSET ARE THOSE WHICH CAN BE SEEN AND TOUCH LIKE PLANT , VEHICLE , BUILDING .
INTANGIBLE ASSET ARE THOSE WHICH CANNOT BE SEEN AND TOUCH BUT HAS VALUE LIKE PATENTS , GOODWILL ETC
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education