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Home / Questions / For Fielder Enterprises indicate how each of the following usually should be classified If...

For Fielder Enterprises indicate how each of the following usually should be classified If an item should appear in a note to the financial statements select Ac€ANote to Financial Statement

For Fielder Enterprises, indicate how each of the following usually should be classified. If an item should appear in a note to the financial statements, select Ac€A?Note to Financial StatementAc€?? to indicate this fact. If an item needs to be reported on the balance sheet, select "Balance Sheet" and if an item need not be reported at all, select Ac€A?Not to be Reported.Ac€??

    Transactions   Reported in   Classification
1.   Prepaid insurance.    Balance SheetNote to Financial StatementNot to be Reported    Property, Plant, and EquipmentCurrent AssetsNot to be ReportedCurrent LiabilitiesInvestmentsLong-term LiabilitiesIntangible AssetsCapital StockPaid-in Capital in Excess of ParRetained EarningsEquity
2.   Stock owned in affiliated companies    Note to Financial StatementBalance SheetNot to be Reported    InvestmentsLong-term LiabilitiesCapital StockEquityPaid-in Capital in Excess of ParProperty, Plant, and EquipmentCurrent LiabilitiesNot to be ReportedCurrent AssetsRetained EarningsIntangible Assets
3.   Unearned service revenue.    Note to Financial StatementNot to be ReportedBalance Sheet    InvestmentsLong-term LiabilitiesCapital StockNot to be ReportedPaid-in Capital in Excess of ParRetained EarningsCurrent LiabilitiesProperty, Plant, and EquipmentCurrent AssetsEquityIntangible Assets
4.   Advances to suppliers.    Balance SheetNote to Financial StatementNot to be Reported    EquityNot to be ReportedRetained EarningsProperty, Plant, and EquipmentCurrent LiabilitiesIntangible AssetsCurrent AssetsInvestmentsLong-term LiabilitiesCapital StockPaid-in Capital in Excess of Par
5.   Unearned rent revenue.    Balance SheetNote to Financial StatementNot to be Reported    Current LiabilitiesCapital StockIntangible AssetsCurrent AssetsRetained EarningsNot to be ReportedProperty, Plant, and EquipmentInvestmentsLong-term LiabilitiesEquityPaid-in Capital in Excess of Par
6.   Preferred stock.    Balance SheetNote to Financial StatementNot to be Reported    EquityNot to be ReportedCurrent AssetsPaid-in Capital in Excess of ParCapital StockRetained EarningsLong-term LiabilitiesProperty, Plant, and EquipmentCurrent LiabilitiesInvestmentsIntangible Assets
7.   Additional paid-in capital on preferred stock.    Balance SheetNot to be ReportedNote to Financial Statement    Retained EarningsCurrent AssetsNot to be ReportedProperty, Plant, and EquipmentPaid-in Capital in Excess of ParEquityCurrent LiabilitiesIntangible AssetsLong-term LiabilitiesInvestmentsCapital Stock
8.   Copyrights.    Not to be ReportedBalance SheetNote to Financial Statement    Intangible AssetsCurrent LiabilitiesLong-term LiabilitiesCapital StockPaid-in Capital in Excess of ParCurrent AssetsProperty, Plant, and EquipmentRetained EarningsInvestmentsEquityNot to be Reported
9.   Petty cash fund.    Balance SheetNote to Financial StatementNot to be Reported    InvestmentsCurrent LiabilitiesIntangible AssetsPaid-in Capital in Excess of ParNot to be ReportedCurrent AssetsProperty, Plant, and EquipmentLong-term LiabilitiesRetained EarningsEquityCapital Stock
10.   Sales taxes payable.    Note to Financial StatementBalance SheetNot to be Reported    Current LiabilitiesIntangible AssetsLong-term LiabilitiesInvestmentsProperty, Plant, and EquipmentCapital StockCurrent AssetsRetained EarningsPaid-in Capital in Excess of ParEquityNot to be Reported
11.   Accrued interest on notes receivable.    Balance SheetNote to Financial StatementNot to be Reported    Capital StockRetained EarningsPaid-in Capital in Excess of ParProperty, Plant, and EquipmentCurrent LiabilitiesIntangible AssetsLong-term LiabilitiesEquityNot to be ReportedCurrent AssetsInvestments
12.   Twenty-year issue of bonds payable that will mature within the next year. (No sinking fund exists, and refunding is not planned.)    Balance SheetNot to be ReportedNote to Financial Statement    Current LiabilitiesPaid-in Capital in Excess of ParEquityRetained EarningsCapital StockNot to be ReportedLong-term LiabilitiesCurrent AssetsInvestmentsProperty, Plant, and EquipmentIntangible Assets
13.   Machinery retired from use and held for sale.    Not to be ReportedBalance SheetNote to Financial Statement    EquityCurrent AssetsInvestmentsIntangible AssetsCurrent LiabilitiesLong-term LiabilitiesCapital StockPaid-in Capital in Excess of ParNot to be ReportedProperty, Plant, and EquipmentRetained Earnings
14.   Fully depreciated machine still in use.    Note to Financial StatementNot to be ReportedBalance Sheet    Current LiabilitiesInvestmentsIntangible AssetsLong-term LiabilitiesCurrent AssetsRetained EarningsProperty, Plant, and EquipmentEquityCapital StockNot to be ReportedPaid-in Capital in Excess of Par
15.   Accrued interest on bonds payable.    Note to Financial StatementNot to be ReportedBalance Sheet    Long-term LiabilitiesIntangible AssetsCapital StockNot to be ReportedPaid-in Capital in Excess of ParCurrent LiabilitiesRetained EarningsCurrent AssetsEquityInvestmentsProperty, Plant, and Equipment
16.   Salaries that company budget shows will be paid to employees within the next year.    Balance SheetNote to Financial StatementNot to be Reported    Property, Plant, and EquipmentIntangible AssetsCurrent LiabilitiesEquityPaid-in Capital in Excess of ParRetained EarningsLong-term LiabilitiesCapital StockNot to be ReportedCurrent AssetsInvestments
17.   Discount on bonds payable. (Assume related to bonds payable in item 12.)    Balance SheetNot to be ReportedNote to Financial Statement    Current LiabilitiesCapital StockNot to be ReportedIntangible AssetsCurrent AssetsInvestmentsPaid-in Capital in Excess of ParEquityLong-term LiabilitiesProperty, Plant, and EquipmentRetained Earnings
18.   Accumulated Depreciation-Buildings.    Balance SheetNote to Financial StatementNot to be Reported    Current LiabilitiesRetained EarningsLong-term LiabilitiesIntangible AssetsEquityCapital StockNot to be ReportedPaid-in Capital in Excess of ParCurrent AssetsInvestmentsProperty, Plant, and Equipment
19.   Noncontrolling interest.    Not to be ReportedNote to Financial StatementBalance Sheet  
 

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Apr 29 2020 View more View Less

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