None of the above Indicate by letter how each of the following should be classified: Advertising expense Amortization of a patent held as an investment Cash dividend received on short-term investment Depreciation on plant that manufactures good for sale

Which of the following accounts would not be reported in the “Other Expenses and Losses” section of a multi-step income statement?   Select one: Interest expense Loss on the sale of equipment Unrealized holding loss on equity investments Amortization expense

Given the following information for C & J, Inc. identify where the items will be classified (asset or expense, or not reported) and on which financial statement the items will reported (income statement, balance sheet, or N/A). Cost Item Research and Development Prepaid Expenses Cost of Goods Sold Selling, General and Administrative Inventory Opportunity Cost Classification Asset Expense Not Reported Financial Statement

Which are segments are reportable segments?  Is there a sufficient number of reportable segments disclosed?  If the company is a non public entity, which segments are required to be disclosed?

select the item that best completes each of the decriptions below A(n)____ is a record of increases and decreases in a spefic asset, liability, equity, revenues, or expenses items. A(n)____ is a resource owned or controlled by a company A common stock and dividendes are examples of___ accounts A(n)____ is a obilgations to transfer assets to others ___ are people and organziations that are entitlied to recieve payments from a company

State where each of the following items would appear on (1) a multiple-step income statement and on (2) a single-step income statement. Multiple-Step Income Statement Single-Step Income Statement Item Section Section (a) Gain on sale of equipment (b) Interest expense Expenses Operating Expenses (c) Casualty loss from vandalism Gross Profit Cost of Goods Sold Other Expenses and Losses Revenues (d) Cost of goods sold Other Revenues and Gains > > >

Assume an income statement with the following classifications: RevenuesCost of goods soldDistribution expensesGeneral & administrative expensesOther revenues and expensesIncome tax on income from continuing operationsGain from disposal of discontinued operationsIncome tax on gain from discontinued operationsNone of the above Indicate by letter how each of the following should be classified: Advertising expenseAmortization of a patent held as an investmentCash dividend received on short-term investmentDepreciation on plant that manufactures good for sale (prior to sale of the goods)Freight on salesIncome tax effect of loss on sale of plantIncome tax on gain on sale of short-term investment in securitiesInterest expenseInterest revenueLoss on sale of patentDividend revenue from investmentSalary of company presidentSalesSales returnsServices sold

Which item is not included in an S corporation's nonseparately computed income? a. Net sales. b. Cost of goods sold. c. Dividends received. d. Depreciation recapture. e. All of these are included in non-separately computed income.

The Pet Store experienced the following events for the Year 1 accounting period: 1. Acquired $55,000 cash from the issue of common stock. 2. Purchased $78,000 of inventory on account. 3. Received goods purchased in Event 2 FOB shipping point; freight cost of $1,400 paid in cash. 4. Sold inventory on account that cost $44,000 for $83,000. 5. Freight cost on the goods sold in Event 4 was $1,200. The goods were shipped FOB destination. Cash was paid for the freight cost. 6. Customer in Event 4 returned $5,360 worth of goods that had a cost of $2,730. 7. Collected $68,060 cash from accounts receifable. 8. Paid $64,000 cash on accounts payable. 9. Paid $3,360 for advertising expense. 10. Paid $3,570 cash for insurance expense. Required a. Which of these events affect period (selling and administrative) costs? Which result in product costs? If neither, label the transaction NA. Transaction Cost

Please prepare a cost by nature/expense by nature income statement for the following points. In particular please explain whether point a) (first point) should be included in the income statement. In point a), Is there sufficient information for write-off expenses to be recorded in the income statement and should write-off of assets be included in the income statement? a) Write off (in minus) of short-term financial assets 9 000b) Other costs by nature 4 000c) Change in inventories of traded goods + 2 000d) Revenue from sale of building 50 000e) Income tax 10%f) Revenue from sale of traded goods 12 000g) Retained profits from previous years 10 000h) Accumulated depreciation of building 49 000i) Historical cost of building 102 000