Fixed Assets Are Ordinarily Presented On The Balance Sheet ~ NewsWire

Tuesday, May 4, 2021

Fixed Assets Are Ordinarily Presented On The Balance Sheet

May 04, 2021 / by NewsGeek / with No comments /

Land acquired so it can be resold in the future is listed in the balance sheet as a(n) 72. The balance in Discount on Bonds Payable that is applicable to bonds due in 2015 would be reported on the balance sheet in the section entitled .The Balance Sheet is only historic rather than prophetic. In a layman's language, a Balance Sheet may be called as a statement of equality in which equality is established by representing assets value on one side and the value of liabilities and owners fund on the other side of it.Interest Expense 6,000 Question 4 (Mandatory) (1.5 points) Land acquired so it can be resold in the future is listed in the balance sheet as a(n) O fixed asset О O current asset investment intangible assetLand acquired so it can be resold in the future is listed in the balance sheet as a(n)? a. current asset . b. investment . c. fixed asset . d. intangible asset. Answer Save. 1 Answer. Relevance. Anonymous. 1 decade ago. Favorite Answer. b. If the land was acquired for use the answer would be c. Land is not liquid enough for a.land acquired so it can be resold in the future is listed on the balance sheet as a(n) asked Feb 1 in Other by manish56 (-34,887 points) Categories. All categories; Biology (241) Board Exams (195) Class XII Business Studies (579) Class XII Accountancy (22) Class XII Economics (25) Class XII Psychology (12)

Balance Sheet: Nature, Form and Division

Land acquired so it can be resold in the future is listed in the balance sheet as a(n) a. fixed asset b. current asset c. investment d. intangible asset.residual value Land acquired so it can be resold in the future is listed on the balance sheet as a (n)Land acquired so it can be resold in the future is listed in the balance sheet as a(n) a. fixed asset b. current asset c. investment d. intangible asset ANS: C DIF: Easy OBJ: 10-01 NAT: AACSB Analytic | AICPA FN-Measurement 2. Which of the following should be included in the acquisition cost of a piece of equipment? a.Land acquired so it can be resold in the future is listed on the balance sheet as a(n) a.current asset b.investment c.fixed asset d.intangible asset. B. Which of the following are criteria for determining whether to record an asset as a fixed asset? a.must be tangible and an investment

Solved: Interest Expense 6,000 Question 4 (Mandatory) (1.5

For most companies, land is a strategic asset because it doesn't go through the wear-and-tear other fixed assets experience. If an organization evolves in a sector where land ownership -- and real estate holdings, in general -- are key, the business must find ways to secure good deals on strategically situated parcels.Land acquired so it can be resold in the future is listed on the balance sheet from ACC 1160 at Cowley Community CollegeGrade Details 1. Question: Land acquired so it can be resold in the future is listed in the balance sheet as a(n) Your Answer: fixed asset current asset investment CORRECT intangible asset Points Received: 2 of 2 Comments: 2. Question: Which of the following should be included in the acquisition cost of a piece of equipment? Your Answer: Points Received: 2 of 2 Comments: 3.Why does our company's balance sheet report its land at cost when it is so much more valuable? Accountants are guided by the cost principle. This requires accountants to report assets at their cost when acquired—not their replacement cost or market value. The historical cost is an objective amount that can easily be audited. In contrast, theAs a result, the useful life span of land is considered to be basically eternal. Because land is typically the least liquid asset a business owns, it's classified as a fixed asset on your balance sheet. A balance sheet is one of the three major financial statements that a small business will prepare to report on its financial position.

The amount of cash to be reported on the balance sheet at June 30 is the

a. balance as of June 30 on the financial institution observation

b. adjusted balance showing in the bank reconciliation for June 30

c. overall of the Cash column in the money receipts magazine as of June 30

d. total of the Cash column in the cash bills magazine as of June 30