pre class balance sheet

1 the future sacrice is probable 2 the amount of the

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Unformatted text preview: ra2on technician whose annual salary is $75,000/year 7 Current Assets •  Cash •  Short- term investments (some2mes referred to as marketable securi2es) •  Accounts receivable Ø། Cash expected to be collected from customers •  Inventory Ø། Product company intends to sell •  Advances to suppliers •  Pre- paid expenses Ø། E.g., insurance, rent, magazine subscrip2ons 8 Long- Term Assets •  Long- term investments Ø། E.g., stocks, bonds, tangible assets not used in opera2ons •  Property, plant and equipment (PP&E) Ø། Original value lowered by accumulated deprecia2on to take account of deteriora2on over 2me (land not depreciated). Deprecia2on is a contra asset. •  Intangible assets Ø། No physical substance; e.g., trademarks, patents, goodwill; original...
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