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The sub-classifications for assets on the company’s classified statement of

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The sub-classifications for assets on the company’s classified statement of financial position 1. The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2011: Accounts payable ¥ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 What are total Non-current liabilities at December 31, 2011? a. ¥0 b. ¥70,000 c. ¥88,000 d. ¥90,000 2. The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2011: Accounts payable ¥ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 190,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Patents 20,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 What is total equity and liabilities at December 31, 2011? a. ¥176,000 b. ¥190,000 c. ¥218,000 d. ¥232,000 3. The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2011: Accounts payable ¥ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 190,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Patent 20,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 The sub-classifications for assets on the company’s classified statement of financial position would include all of the following except: a. Current Assets. b. Property, Plant, and Equipment. c. Intangible Assets. d. Long-term Assets. 4. The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2011: Accounts payable $ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 The current assets should be listed on Dinkel’s statement of financial position in the following order: a. accounts receivable, prepaid insurance, equipment, cash. b. accounts receivable, prepaid insurance, supplies, cash. c. prepaid insurance, supplies, accounts, receivable, cash. d. equipment, supplies, prepaid insurance, accounts receivable, cash. 5. Which statement about long-term investments is not true? a. They will be held for more than one year. b. They are not currently used in the operation of the business. c. They include investments in stock of other companies and land held for future use. d. They can never include cash accounts. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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