The following accounts were taken from the financial statements of Popovic Company, OAO. ______ Interest revenue ___________________
Question:
The following accounts were taken from the financial statements of Popovic Company, OAO.
______ Interest revenue ___________________ Share capital-ordinary
______ Utilities payable ______ Accumulated depreciation-equipment
______ Accounts payable __________________________________ Equipment
______ Supplies ______________________ Salaries and wages expense
______ Bonds payable ___________________ Investment in real estate
______ Trademarks _______________________ Unearned rent revenue
Match each of the accounts to its proper statement of financial position classification, as shown below. If the item would not appear on a statement of financial position, use "NA."
Intangible assets (IA) ..............................................Equity (E)
Property, plant, and equipment (PPE) ...Non-current liabilities (NCL)
Long-term investments (LTI) ............................ Current liabilities (CL)
Current assets (CA)
Intangible AssetsAn intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Step by Step Answer:
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso