Chapter 4 Flashcards

1
Q

Classify income tax receivable

A

Current assets

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2
Q

Classify raw materials inventory

A

Current assets

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3
Q

Classify cash surrender value of life insurance

A

Investments

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4
Q

Classify investment in IBM common stock (with intent to hold at least a year)

A

Investments

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5
Q

Classify machinery

A

Property, plant, and equipment

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6
Q

Classify franchise

A

Intangible assets

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7
Q

Classify non current receivable (due from supplier)

A

Other assets

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8
Q

Classify dividends payable

A

Current liabilities

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9
Q

Classify deferred revenue (current)

A

Current liabilities

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10
Q

Classify bonds payable

A

Long term liabilities

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11
Q

Classify common stock

A

Paid in capital

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12
Q

Classify paid in capital in excess of par-common stock

A

Paid in capital

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13
Q

Classify currency translation adjustment

A

Accumulated other comprehensive income

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14
Q

Classify net assets owned by non controlling stockholders

A

Non controlling interests

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