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1. Classification Issues-Intangibles Presented below is selected account information related to Matt Perry Inc. as of December 21, 2010. All these accounts have debit balances. Cable television franchises Film contract rights Music copyrights Customer lists Research and development costs Prepaid expenses Goodwill Covenants not to compete Cash Brand names Discount on notes payable Notes receivable Accounts receivable Investments in affiliated companies Property, plant, and equipment Organization costs Internet domain name Land Identify which items should be classified as an intangible asset. For those items not classified as an intangible asset, indicate where they would be reported in the financial statements.
In the recent years, PT Angushas purchased three delivery trucks. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method of each delivery truck, and various met..
a corporation was formed on january 1. the corporation charter authorized 100000 shares of 10 par value common stock.
Briefly describe when the petty cash fund should be replenished. Because there is cash on hand, is there a need to replenish the fund at year end on December 31? Explain.
becker inc. sells a single product for 450 per unit including a 90-day warranty against defects. it is estimated that 3
The issuance price of a bond does not depend on the-Which of the following is true of a premium on bonds payable?
Determine whether the taxpayer in each of the following situations has realized income. Explain why there has or has not been a realization, and determine the amount of income to be reported:
listed below are the transactions of yasunari kawabata d.d.s. for the month of september.sept. 1 kawabata begins
Which of the following statements is true regarding inventory transfers between a parent and its subsidiary, using the initial value method?
during feb 2010 its first month of operations the owner of schwenn enterprise invested cash of 25000. schwenn had cash
a 50m long army platoon marching ahead. the last person in the platoon wants to give a letter to the first person
if a company fails to adjust for accrued expenses what effect will this have on that months financial
Jose wants to cash in his winning lottery ticket. He can either receive five, $5,000 semiannual payments starting today, or he can receive a lump-sum payment now based on a 6% annual interest rate. What would be the lump-sum payment?
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