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Where do you place franchise in a classified balance sheet?
intangible asset
How do you record goodwill on a balance sheet?
intangible asset
Inventory on a classified balance sheet?
Inventory is par to current asset at asset side in classified balance sheet as inventory is used within one fiscal year.
Merchandise inventory is classified on the balance sheet as a?
Current Asset
How is merchandise inventory classified on the balance sheet?
As a current asset
Where do you place franchise in a classified balance sheet?
intangible asset
How do you record goodwill on a balance sheet?
intangible asset
Where do you place patent in a classified balance sheet?
Answer:Under 'Intangible assets'.
Inventory on a classified balance sheet?
Inventory is par to current asset at asset side in classified balance sheet as inventory is used within one fiscal year.
How is merchandise inventory classified on the balance sheet?
As a current asset
Merchandise inventory is classified on the balance sheet as a?
Current Asset
What items on a company's balance sheet have no physical substance?
Intangible assets are items such as Copyrights, patents, goodwill, trademarks, etc. These would be classified as Intangible Assets on a company's balance sheet.
Can An intangible asset be reported on a balance sheet?
All assets whether tangible or intangible are reported on balance sheet as current assets or long term or fixed assets like goodwill, patent etc.
Is it truth Merchandise inventory is classified as a current asset in a classified balance sheet?
Yes merchandise inventor is usable within one fiscal year that's why it is current asset and shown as a current asset in balance sheet.
What part of balance sheet the amortization?
Amortization is shown as deduction from intangible asset like depreciation is shown as deduction from tangible asset.
Why employees were not record on balance sheet asset side?
The main reason is that they would be classified as intangible assets. Intangible assets should only be included on the balance sheet when the costs are easily measurable. It would be very difficult to measure an employees value to a company. Also under ISA 38, internally generated goodwill is not allowable.
In a classified balance sheet assets are usually classified as?
current assets; long-term investments; property, plant, and equipment; and intangible assets.
