Question Details

Which account will appear last under the current assets 



1.	Which account will appear last under the current assets classification on the Statement of Financial Position?
a.	Accounts Receivable.
b.	Prepaid Expenses.
c.	Short-term investments.
d.	cash.

2.	Which of the following classification appears last in the Statement of Financial Position?
a.	Non-current Liabilities.
b.	Equity.
c.	Current Liabilities.
d.	Reserves.


3.	Which of the following is in the proper position?
a.	Equity;Current Liabilities;Non-current Liabilities.
b.	Equity;Non-current Liabilities;Current Liabilities.
c.	Current Liabilities;Non-current Liabilities;Equity.
d.	Non-Current Liabilities; current Liabilities;Equity.


Use the following data (in thousands) for questions 4  5
	Debit	Credit
Long-term debt		¥ 943
Prepaid expenses	¥ 880
Equipment	11,500
Patents	264	 
Short-term investments	3,690	
Notes payable in 2012		481
Cash	2,668	
Accumulated depreciation		5,655
Accounts payable		1,444
Notes payable after 2012		368
Share capital-ordinary		10,000
Retained earnings		3,063
Accounts receivable	1,696	
Inventories	1,256	
         Total	¥ 21,954	¥ 21,954

4.	Total assets on the Statement of Financial Position for 2012 are: 
a.	¥21,954
b.	¥16,299
c.	¥27,609
d.	¥15,419


5.	The subtotal of the last asset classification on the 2012 Statement of Financial Position is:
a.	¥5,845
b.	¥9,310
c.	¥11,500
d.	¥10,190



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