Listed below is a selection of accounts found in the general ledger of Marshall Corporation as of December 31, 2026: Accounts receivable Research & development costs Goodwill Internet domain name Organization costs Initial operating loss Prepaid insurance Non-competition agreement Radio broadcasting rights Customer list Premium on bonds payable Video copyrights Trade name Notes receivable Instructions List those accounts that should be classified as intangible assets.
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- Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Temporary investments $34,776 68,729 6,274 17,183 41,813 79,200 110,895 74,491 22,045 646,175 2,554 31,252 Based on the data for Harding Company, what is the amount of working capital? a. $198,918 b. $643,621 c. $997,801 Od. $135,823Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable Accounts receivable Accrued liabilities Cash $25,348 72,217 6,515 18,453 36,540 82,322 107,903 73,662 29,474 659,319 1,775 31,321 Intangible assets Inventory Long-term investments Long-term liabilities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Temporary investments Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)? Oa. 0.8 Ob. 3.4 Oc. 16.5 Od. 2Presented below is selected information related to Martin Burke Inc. at year-end. All these accounts have debit balances.(a1) Identify which items should be classified as an intangible asset. Reported as Cable television franchises Music copyrights Research and development costs Goodwill Cash Discount on notes payable Accounts receivable Property, plant, and equipment Internet domain name Film contract rights Customer lists Prepaid expenses Covenants not to compete…
- Displayed here are the draft financial statements which have been prepared for Valerie’s business for the year ended 30 April 2021. Draft Statement of Financial Position as at 30 April 2021 Assets Non-current assets see point a. below Cost 90,000 Provision for depreciation 30,600 Net Book Value 59,400 Current assets Inventory To be advised Trade receivables 43,200 Cash 4,680 47,880 Total assets 107,280 Liabilities Current liabilities Trade payables 17,280 Non-current liabilities Bank loan 16,000 Total liabilities 33,280 Net assets 74,000 Owner’s interest Capital invested 24,000 Profit and Loss Reserve: Opening balance 34,720 Draft profit for the year…(Preparation of a Classified Balance Sheet, Periodic Inventory) Presented below is a list of accounts in alphabetical order. Accounts ReceivableBuildingsAccumulated Depreciation—BuildingsCash (in bank)Accumulated Depreciation—EquipmentCash (on hand)Accumulated Other Comprehensive IncomeCash Surrender Value of Life InsuranceAdvances to EmployeesCommission ExpenseAdvertising ExpenseCommon StockAllowance for Doubtful AccountsInterest ReceivableBond Sinking FundInventory—BeginningBonds PayableInventory—EndingLandPrepaid RentLand for Future Plant SitePurchase Returns and AllowancesLoss from FloodPurchasesNotes Payable (due next year)Retained EarningsPaid-in Capital in Excess of Par—Preferred StockSalaries and Wages Expense (sales)PatentsSalaries and Wages PayablePayroll Taxes PayableSales DiscountsPension LiabilitySales RevenuePetty CashTreasury Stock (at cost)Preferred StockUnearned Subscriptions RevenuePremium on Bonds Payable InstructionsPrepare a classified balance sheet in good form.…The following inrormation has been extracted from the draft financial information of Claudius Ltd. Draft statement of financial position as at 30th June 20X7 and 30th June 20X6 are as follows: 20X7 20X6 £ £ £ ASSETS Non current assets Property, plant and equipment 101,107 64,270 Current assets 27,979 11,506 22,075 14,265 Inventories Trade receivables Cash and Bank 3,240 42,725 294 36,634 TOTAL ASSETS 143,832 100,904 EQUITY AND LIABILITIES Equity Share capital 29,551 27,408 10,454 6,523 7,474 Share Premium Account 11,391 Revaluation reserve 15,456 Retained earnings 11,351 67,749 51,859 Non current liabilities 6% debentures 37,184 22,844 Current Liabilities 14,336 22,417 2,146 Bank overdraft 4,151 Trade and other payables Current tax payable 20,082 38,899 1,968 26,210 Page 3 TOTAL EQUITY AND LIABILITIES 143,832 100,904 Statement of comprehensive income for the year ended 30th June 20X7 £ 58,083 (31,399) Revenue Cost of sales Gross Profit 26,684 Distribution costs (8,959) (6,393)…
- Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item typically would best appear. If an item does not appear on the balance, indicate that instead. Account Title 1. Notes receivable (due in 2 years) 2. Trademarks 3. Cash 4. Patents 5. Interest receivable 6. Machinery 7. Prepaid rent (2 months of Rent) 8. Equipment 9. Repairs expense 10. Land Classification Account Title 11. Depreciation expense Building 12. Office equipment 13. Prepaid Insurance (expires in 5 months) 14. Buildings 15. Bonds payable (due in 10 years) 16. Trucks 17. Mortgages payable (due in 6 years) 18. Automobiles 19. Notes payable (due in 3 years) 20. Utilities expense Classificationhelp me pleaseBased on the information below of FDNACCT Co., how much should be recorded as total assets in the Statement of Financial Position? Long-term Payable Notes Payable Property, Plant and Equipment Accounts Receivable Accounts Payable Accumulated Depreciation Cash Unearned Income Notes Receivable Prepaid Insurance Accrued Expense Accrued Revenue P500,000 120,000 821,000 59,000 65,000 133,000 75,000 15,345 248,000 58,700 37,890 159,840
- You have partial information from an entity financial statements as follows: Accounts receivable Allowance for doubtful accounts Inventory FV-NI Investments Accounts payable Unearned revenues Equipment Accumulated depreciation - equipment Sales Cost of goods sold Depreciation expense Bad debt expense Loss on sale of equipment Loss on sale of FV-NI investments Holding gain- FV-NI investments Note also the following: Accounts written off that were recoved during 2024: $ $ $ $ $ 2024 4,450,000 $ (198,000) $ 3,820,000 $ 1020000 2,740,000 $ 365,000 $ 200,000 -98,000 $ $ $ $ $ 2023 3,690,000 (165,000) 4,490,000 925000 2,630,000 430,000 189,000 -89,000 20,560,000 9,250,000 10,000 356,000 5,500 5000 33000 25,000 Required 1) Calculate the cash collected from customers in 2024. 2) Calculate the cash paid to suppliers for purchase of inventory. 3) One FV-NI investment was sold during the year. Its carrying value at the beginning of the year was: $ 125,000 Calculate the NET cash generated/used up…Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $39,415 Accounts receivable 65,067 Accrued liabilities 6,195 Cash 21,671 Intangible assets 41,052 Inventory 85,290 Long-term investments 108,065 Long-term liabilities 73,110 Marketable securities 37,849 Notes payable (short-term) 25,011 Property, plant, and equipment 697,185 Prepaid expenses 2,218 Based on the data for Harding Company, what is the amount of working capital? a.$694,967 b.$212,095 c.$141,474 d.$1,058,397Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $38,576 Accounts receivable 62,104 Accrued liabilities 6,548 Cash 15,575 Intangible assets 39,083 Inventory 71,044 Long-term investments 90,442 Long-term liabilities 74,452 Marketable securities 38,270 Notes payable (short-term) 24,003 Property, plant, and equipment 652,967 Prepaid expenses 2,137 Based on the data for Harding Company, what is the amount of quick assets?
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