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Where should promotional products given to customers be classified in the balance sheet?
Wiki User
∙ 15y ago
They should appear on the Income Statement (NOT the Balance Sheet) as Advertising and Promotion Expenses.
Wiki User
∙ 15y ago
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What is classified balance sheet?
Classified balance sheet shows items in classification like current assets, non-current assets etc.
Unearned revenue in balance sheet?
Unearned revenue is a liability and is included on the credit side of the balance sheet. Unearned revenues are recognized when customers pay up front for the products/services. As a result, the company has an obligation to the customer to deliver products/render services. When the company has deliverd the products/rendered the services, the liability unearned revenues is reduces and recognized as sales.
Does Nike use a classified balance sheet?
yes
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 the Bonds Payable account classified on the balance sheet?
It is classified under Long-term Debt/Liabilities
What do HeartMath products offer customers?
The HearthMath products offer a balance in a person's life from all the stress and negativity that one may endure over the course of their lives. HearthMath products helps one to balance their chi and provide a better quality of life.
What is classified balance sheet?
Classified balance sheet shows items in classification like current assets, non-current assets etc.
Where do you place vehicles in classified balance sheet?
Assest side of balance sheet
How does an organisation balance its needs with customer expectations and needs?
An organization can balance customer expectations and needs by offering customers a product that is affordable and something they need. They can also offer new products from time to time, as well as special offers.
What to do with defunct customers and their prepaid balance?
give it to me.
Unearned revenue in balance sheet?
Unearned revenue is a liability and is included on the credit side of the balance sheet. Unearned revenues are recognized when customers pay up front for the products/services. As a result, the company has an obligation to the customer to deliver products/render services. When the company has deliverd the products/rendered the services, the liability unearned revenues is reduces and recognized as sales.
Does Nike use a classified balance sheet?
yes
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.
Classified balance sheet?
Classified balance sheet is that one in which different sections like current assets, fixed assets, other assets, liabilities and capital is shown.
How is the Bonds Payable account classified on the balance sheet?
It is classified under Long-term Debt/Liabilities
What is a large balance?
A large balance would be considered any amount you can not repay within a specific amount of time. Either pay the balance in full each month or at the end of the promotional period.
How does a classified balance sheet differ from a unclassified balance sheet?
A classified balance sheet is a balance sheet in which assets and liabilities are subdivided into current and long-term categories. soooo if that's a classified balance sheet an unclassified would have to be one that has its assets and liabilities and everything but they are not grouped further within themselves. Meaning that there is no order within assets as to which they are listed I suppose. **Note: I copied & pasted this answer from another website.
