Melissa Harvey_chapter_5

Melissa Harvey_chapter_5 - 6. Current assets are put in...

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Melissa Harvey Chapter 5 exercises and Problems 1. Current liabilities 2. Balance Sheet 3. Contingencies 4. Liabilities 5. Current assets 6. Property, plant, and equipment 7. Intangible assets 8. Assets 9. Equity Part II 1. B 2. I 3. K 4. F 5. G 6. J 7. L 8. A 9. A 10. G 11. D 12. F Part III 1. A 2. L 3. I 4. J 5. F 6. H 7. G 8. C 9. K 10. K 11. H 12. E 13. D Part IV 1. The title of “Reserve for Depreciation” should maybe be called Accumulated depreciation 2. The Plant site that is held for future use should be shown in the section of Investments. 3. Land and buildings should be split in 2 different accounts.
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4. Current assets should be shown first on the balance sheet 5. Factory supplies should be shown as a current asset.
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Unformatted text preview: 6. Current assets are put in order of liquidity. 7. Treasury stock is not an asset and should be part of the stockholders equity 8. Notes receivable should be a current asset 9. The 5% debenture bonds should be shown on a line by itself 10. Capital stock should be shown at the par value of the shares issued and any excess should be included in a paid-in capital account. 11. Capital surplus and earned surplus I would call paid-in capital and retained earnings 12. The heading should maybe be a little more specific going by date and not by the period of time....
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This note was uploaded on 01/19/2012 for the course IS 281 taught by Professor Partebo during the Fall '10 term at Eastern New Mexico.

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Melissa Harvey_chapter_5 - 6. Current assets are put in...

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