Homework Week 5 - Net Income will be Overstated Retained...

Net Income will be Overstated
Retained Income will be over stated.

1 a
2 d
3 c
4 c
5 b
6 a
7 b
8 c
9 d

Accounting Treatment
Business Types of Costs Inventory Cost
Retail shoe store Shoes for sale X
Shoe boxes X
Advertising signs X
Grocery store Canned goods on the shelves X
Produce X
Cleaning supplies X Recorded as an asset, and then a expense as you use it it
Cash registers X
Recorded as an asset, and then then figure in depreciition.
Frame shop Wooden frame supplies X
Nails X
Glass X
Walk-in print shop Paper X
Copy machines X Recorded as an asset, and then then figure in depreciition.
Toner cartridges X
Recorded as an asset, and then a expense as you use it it