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Identify where you classify the following items Account Title Current Asset Non-Current Asset Tangible Intangible 1 Account Recwivable 2 Building 3 Cash 4 Computer Equipment 5 Copyrights 6 Delivery Truck 7 Furniture and Fixtures 8 Store Supplies 9 Inventories 10 Land 11 Notes Receivable 12 Office Supplies 13 Accrued Income 14 Prepaid Insurance 15 Prepaid Rent
Identify where you classify the following items
| Account Title | Current Asset | Non-Current Asset | Tangible | Intangible | |
| 1 | Account Recwivable | ||||
| 2 | Building | ||||
| 3 | Cash | ||||
| 4 | Computer Equipment | ||||
| 5 | Copyrights | ||||
| 6 | Delivery Truck | ||||
| 7 | Furniture and Fixtures | ||||
| 8 | Store Supplies | ||||
| 9 | Inventories | ||||
| 10 |
Land |
||||
| 11 | Notes Receivable | ||||
| 12 | Office Supplies | ||||
| 13 | Accrued Income | ||||
| 14 | Prepaid Insurance | ||||
| 15 | Prepaid Rent |
Expert Solution
Answer :
| 1 | Account Receivable | : Current Assets : Tangible | |||
| 2 | Building | : Non Current Asset : Tangible | |||
| 3 | Cash | : Current Assets : Tangible | |||
| 4 | Computer Equipment | : Non Current Asset : Tangible | |||
| 5 | Copyrights | : Intangible : Non Current Asset | |||
| 6 | Delivery Truck | : Non Current Asset : Tangible | |||
| 7 | Furniture and Fixtures | : Non Current Asset : Tangible | |||
| 8 | Store Supplies | : Current Assets : Tangible | |||
| 9 | Inventories | : Current Assets : Tangible | |||
| 10 |
Land |
: Non Current Asset : Tangible |
|||
| 11 | Notes Receivable |
: Non Current Asset : If due date is more than a year in future : Tangible : Current if due date is less than a year in future : Tangible |
|||
| 12 | Office Supplies | : Current Assets : Tangible | |||
| 13 | Accrued Income | : Current Assets : Tangible | |||
| 14 | Prepaid Insurance | : Current Assets : Tangible |
| 15 | Prepaid Rent : Current Assets : Tangible |
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