Problem related to eugene motor corp

Reference no: EM13755473

1. Assume that Eugene Motor Corp. uses the following headings on its balance sheet:

A.	Current Assets
B.	Investments
C.	Property, Plant, and Equipment
D.	Intangible Assets
E.	Current Liabilities
F.	Long-Term Liabilities
G.	Capital Stock
H.	Retained Earnings
I.	Stockholders' Equity

Required:

Indicate by letter how each of the following should be best classified. If an item would not appear on the balance sheet but would appear in a note to the financial statements, use the letter "N" to indicate this. If an item is neither reported on the balance sheet nor disclosed as a note, use the letter "X" to indicate this. If the account balance is normally opposite that of a typical account in that classification, indicate this by placing the letter in parentheses.

a.	Patents
b.	Merchandise Inventory
c.	Taxes Payable
d.	Employee Payroll Deduction for State Income Taxes
e.	Cash
f.	Office Supplies
g.	Preferred Stock
h.	Common Stock
i.	Work in Process
j.	Land
k.	Accounts Receivable
l.	Accumulated Depreciation
m.	Unearned Rent Income
n.	Unamortized Bond Payable Discount (bond payable five years from current balance sheet date)
o.	Receivable from Officer-due in 6 months
p.	Accumulated Deficit (losses incurred since inception)
q.	Insurance Expense
r.	Goodwill
s.	Interest Accrued on U.S. Government Securities Owned
t.	Accounts payable
u.	Treasury Stock
v.	Wages Payable
w.	Land Purchased as Future Development Site
x.	Unexpired Rent Expense (prepaid rent)

Reference no: EM13755473

Questions Cloud

Why is there no shale deposited near the shoreline : Why is there no shale deposited near the shoreline?

Define service-delivery efficiency in the catering industry : This project aims to improve process organisation and service-delivery efficiency in the catering industry. In particular, the solution proposed in this project will be presented by employing a typical restaurant as a case-study

In what ways does king appeal for white support for boycott : In what ways does King appeal for white support for the boycott? What does Johnson mean when he says, "freedom is not enough"?

Examine the decisions of a small business owner : Examine the decisions of a small business owner. Since microeconomics is the study of individual households, firms, and government, we will take a closer look at the operations of a franchise firm.

Problem related to eugene motor corp : 1. Assume that Eugene Motor Corp. uses the following headings on its balance sheet:

What are all the reasons for the war of 1812 : What are all the reasons for the war of 1812?

Preferred balance sheet presentation : Using the letters provided, classify items (1-13) according to the most commonly preferred balance sheet presentation.

Identify and explain two ethical principles : Select a business or other organization with which you are familiar, one you work for or have considerable knowledge about - Identify and explain two ethical principles that might be applied to solving this problem.

What great battle was the trojan horse involved in : What great battle was the trojan horse involved in?

User Account

All Pages