Answer: The answer is as follows:
Explanation:
Each item is classified as follows:
(a) Issuance of ownership shares - Common Stock
(b) Land purchased - Assets
(c) Amounts owed to suppliers - Liabilities (Accounts Payable)
(d) Bonds payable - Liabilities
(e) Amount earned from selling a product - Revenue
(f) Cost of advertising - Expense
Just based off of my own life, I'd say c.
Answer:
The answer of each requirement is given below.
If they are "costs" why are they recorded in asset accounts and not expense accounts?
These cost are future expense. As per accounting rules expense is recorded against any purchase when benifit from it is taken, The benifit from stock is taken when it is sold. So RM, WIP and FG are cost accounted as asset as they are still in pipeline and is to be sold in future.
2) Do these product costs ever become an expense to the company?
Yes, these cost become expenses when final goods are sold. Untill sale they are company asset, as asset is something from which future economic benifit is to taken or derived.
Answer:
technically, atoms have an infinite amount of levels of energy, but there are most likely 7 most known levels of atoms. All levels may contain electrons.
Explanation:
Answer:
B
Explanation:
Normative views are characterized for giving personal opinions in a subjective way about what something should really be. In this case, Joe thinks (subjective opinion) that the wealthiest 10% of the US population "should" be taxed and Fred thinks (subjective opinion) that everyone "should" be taxed.
