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please advise Question Two 1) The current assets answer for each of the following: a. goodwill. b. patents. c. inventory. d. machinery. 2) Which of
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Question Two 1) The current assets answer for each of the following: a. goodwill. b. patents. c. inventory. d. machinery. 2) Which of the following is not an acceptable major asset classification? * (a.) Deferred charges b. Current assets c. Property, plant, and equipment d. Investments 3) Stine Corp.'s trial balance reflected the following account balances at December 31 , 2010: Accounts receivable (net) $24,000, Trading securities 6,000, Cash 11,000 Inventory 30,000, Equipment 25,000 ,Patent 4,000, Prepaid expenses 2,000 , Land held for speculation 18,000, In Stine's December 31, 2011 statement of financial position, the current assets total is (a) $73,000. b. $90,000. c. $77,000. d. $82,000. 4) Reese Corp.'s trial balance reflected the following account balances at December 31 , 2020: Accounts receivable (net) $24,000, Trading securities 6,000 , Land 18,000, Buildings 15,000, Cash 11,000, Inventory 30,000, Equipment 25,000, Patent 4,000 , Prepaid expenses 20,000. In Reese's December 31,2020 balance sheet, the propertv, plant and equipment total is: a. $90,000. Laid Proputy Calculations b. $33,000. Lad 98000 (c.) $58,000. Eqll 25000 d. $78,000. Buildy 5800015000Step by Step Solution
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