Brian has a loan on a round baler. List all the places on the balance sheet where we would see information related to this loan (give the line name and section of the balance sheet each would be on)?

List two effects/impacts of completely writing off (depreciating) a tractor the year it is purchased?

Dustin purchased a new grain harvester using money from his operating loan. How would this affect his liquidity? What might it do to working capital and his current ratio?

True or False If the Debt/Equity ratio increases, the Debt/Asset ratio will also increase. Why or Why not?

Tallen made a mistake on his balance sheet and listed the value of market livestock as $20,000 higher than it should be. How does this error affect his measures of liquidity and solvency?

What is the difference between current and noncurrent?

True or False Prepaid Expenses are a non-Current Asset.

What is positive use of financial leverage? How would you determine if a firm has a positive use of financial leverage?

How are current assets valued on both cost and market based balance sheets? Why?

When is income recognized in agriculture? How does this differ from GAAP?