When preparing the statement of financial position of LBM Ltd, which line item does not fall under current assets? Select one: a. Dividends payable b. Trade and other receivables, which can be shown separately or as one amount, includes debtors less provision for credit losses, bills receivable and income arrears c. Inventories (this includes merchandise and consumables such as stationery, packing and cleaning materials) d. Prepayments

With the trail balance down below, what am I missing in my Income Statement

Accounting type Question: Which of the following is a non operating expense? A. Salary of Managing Director B. Depreciation C. Advertisement expenditure D. Interest on loan

Identifying and Classifying Financial Statement Items For each of the following items, indicate whether they would be reported in the balance sheet (B) or income statement (1). (a) Machinery (b) Supplies expense (c) Inventories (d) Sales (e) Common stock (f) Factory buildings (g) Receivables (h) Taxes payable (i) Taxes expense (i) Cost of goods sold (k) Long-term debt (1) Treasury stock ◆ ◆ ◆ ♦ ♦ ◆ ◆ ♦ ♦

Classify each of the following financial statement items based upon the major balance sheet classifications. Prepaid advertising Equipment Trademarks Salaries and wages payable Income taxes payable Retained earnings Accounts receivable Land (held for future use) Patents Bonds payable Common stock Accumulated depreciation-equipment Unearned sales revenue Inventory

The current balance sheet of J.J. Arvesen Company contains the following major sections: A. Current assets B. Long-term investments C. Property, plant, and equipment D. Intangible assets E. Other assets F. Current liabilities G. Long-term liabilities H. Contributed capital I. Retained earnings J. Accumulated other comprehensive income The following is a list of accounts. Using the letters A through J, indicate in which section of the balance sheet each account would most likely be classified. If an account does not belong under one of the sections listed, select "Not under any of the choices" from the classification drop down box. For all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no". Contra or Account Classification Deducted (Yes/No) 1. Patents (net) 2. Income taxes payable 3. Notes receivable (due in 5 months) 4. Unearned rent 5. Discount…

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