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How would fees receivable appear on the balance sheet?
Fees receivable would appear on the balance sheet as an asset.
Where does Advertising go in the balance sheet?
Advertising expenses typically appear on the income statement rather than the balance sheet, as they are considered operating expenses incurred during a specific period. However, if advertising costs are associated with the development of a long-term asset, such as a brand, they may be capitalized as an intangible asset on the balance sheet. In general, most advertising costs are expensed immediately and do not appear on the balance sheet.
Is merchandise inventory is a long-term asset on the balance sheet true or false?
False
When is the intangible asset goodwill capitalized?
Internally generated goodwill is never capitalized, purchased goodwill is capatalized on the consoilidated balance sheet.
Are commissions earned an asset?
Commisions may appear on a balance sheet as an asset in accounts receivable
Where does loss appear on the balance sheet?
Loss is shown in asset side of business as other asset because it has debit balance and reverse of profit which has credit balance.
Where does the fixed deposit appear in balance sheet?
Current asset
Where does repairs and maintenance go on the balance sheet?
Repairs and maintenance expenses are typically recorded on the income statement rather than the balance sheet. However, if the repairs enhance the value or extend the useful life of an asset, they may be capitalized and added to the asset's value on the balance sheet. In this case, they would appear under property, plant, and equipment (PP&E). Routine maintenance costs, which do not significantly improve the asset, are expensed in the period incurred.
Where does maintenance and repairs expense go on the balance sheet?
Maintenance and repairs expenses do not appear directly on the balance sheet; instead, they are recorded on the income statement as part of operating expenses. However, if the maintenance or repairs enhance the asset's value or extend its useful life, those costs may be capitalized and added to the asset's value on the balance sheet. Otherwise, regular maintenance costs are expensed in the period they are incurred and do not affect the balance sheet directly.
Does accounts receivable go on a balance sheet as liabilities and equity?
Accounts receivable would appear as an asset (+) on a balance sheet.
If a longlived asset is not used for a productive purpose should it be classified as an investment?
It should appear on the Balance Sheet as a Fixed Asset and depreciated accordingly.
What is capitalized lease obligations?
Capitalized lease obligations refer to lease agreements where the lessee records the leased asset as a capital lease on their financial statements. This means the lessee treats the leased asset as if it were purchased with a loan, and includes the lease payments as both an asset and a liability on their balance sheet.
