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m_a_m_a [10]
3 years ago
14

Presented below is selected information related to Beerbo Inc. at year-end. All these accounts have debit balances. For each ite

m, identify how it should be classified in Beerbo's financial statements.
Cable television franchises
Film contract rights
Music copyrights
Customer lists
Research and development costs
Prepaid expenses
Goodwill
Cash
Brand names
Discount on notes payable
Notes receivable (short-term)
Accounts receivable
Property, plant, and equipment
Organization costs
Land
Business
1 answer:
Colt1911 [192]3 years ago
7 0

Answer: Please refer to Explanation

Explanation:

Cable television franchises - INTANGIBLE ASSETS

Film contract rights - INTANGIBLE ASSETS.

Music copyrights - INTANGIBLE ASSETS.

Customer lists - INTANGIBLE ASSETS.

Research and development costs - OPERATING EXPENSES.

Prepaid expenses - CURRENT ASSET

Goodwill - INTANGIBLES

Cash - CURRENT ASSET

Brand names - INTANGIBLE ASSETS

Discount on notes payable - NOTES PAYABLE DEDUCTIBLE.

Notes receivable (short-term) - CURRENT ASSETS

Accounts receivable - CURRENT ASSETS

Property, plant, and equipment - FIXED/ NON-CURRENT ASSETS

Organization costs - START-UP COSTS

Land - NON-CURRENT ASSETS

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Answer:

The correct answer is letter "A": True.

Explanation:

<em>Recruitment evaluations</em> are typically designed to gauge the skills, knowledge, and expertise of applicants. Most of the time, they are created considering the different types of tasks employees have within the organization and their hierarchy in the firm.  

However, <em>if those evaluations are schemed to require the same set of skills for managers and lower hierarchy employees, the tests are likely to help evaluate applicants for different positions under the same parameters.</em>

8 0
3 years ago
John's job provided the main income for his family. He died unexpectedly and had no life insurance. The probable financial conse
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Answer:

An increase in income and expenses

Explanation:

When the main provider of a family dies and he/she doesn't have any type of life insurance, then the whole family's economy will suffer. Their total income will probably plummet. Besides losing John's income, his family must all the  expenses related to his death, e.g. burial. As a terrible consequence, John's family will see their standard of living decrease.

8 0
3 years ago
On January 2, 2019, Kornis Corporation acquired equipment for $1,500,000. The estimated life of the equipment is 5 years or 90,0
tatiyna

Answer:

D) $600,000

Explanation:

The double-declining-balance method of depreciation = Depreciation factor x cost of asset

Depreciation factor = 2 x (1/useful life of the asset)

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I hope my answer helps you

4 0
3 years ago
Read 2 more answers
Whispering Winds Corp. purchased a delivery van with a $52000 list price. The company was given a $4200 cash discount by the dea
Alex777 [14]

Answer:

$50,500

Explanation:

Calculation for by how much will Whispering Winds Corp. increase its van account

Using this formula

Increase in Van account =List price- Cash discount + Sales tax paid

Let plug in the formula

Increase in Van account=$52,000-$4,200+2,700

Increase in Van account=$50,500

Therefore by how much will Whispering Winds Corp. increase its van account will be $50,500

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Sheridan Company signed a long-term non cancellable purchase commitment with a major supplier to purchase raw materials in 2021
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Answer:

Unrealized holding loss - Income (purchase commitments) $ 52,900 Dr

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Explanation:

Unrealized holding loss - Income (purchase commitments) $ 52,900 Dr

Estimated liability on purchase commitments ( $ 1,001,800 - $ 948,900 ) $ 52,900 Cr

6 0
2 years ago
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