Identify the Balance Sheet Classification of Each of the Following

question 140

Essay

Identify the balance sheet classification of each of the following assets by placing an X in the correct classification: Plant Assets, Natural Resources, or Intangibles.
$$\begin{array} { | l | l | l | l | } \hline & \begin{array} { l } \text { Flant } \\\text { assets }\end{array} & \begin{array} { l } \text { Natural } \\\text { Resources }\end{array} & \begin{array} { l } \text { Intangible } \\\text { Assets }\end{array} \\\hline \text { a. Trademark } & & & \\\hline \text { b. Oil Field } & & & \\\hline \text { c. Gold mine } & & & \\\hline \text { d. Buil ding } & & & \\\hline \text { e. Franchise } & & & \\\hline \text { f.Timberland } & & & \\\hline \text { g. Patent } & & & \\\hline \text { h. Land } & & & \\\hline \text { i. Copyright } & & & \\\hline \text { j. Leasehold } & & & \\\hline\end{array}$$

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Definitions:

Acid-Test Ratio

A financial metric that measures a company's ability to pay its short-term liabilities with its quick assets (cash, marketable securities, and receivables).

Prepaid Expenses

Expenses paid in advance for goods or services to be received in the future, recognized as assets on a company's balance sheet until they are consumed or used.

Current Liabilities

Short-term financial obligations that are due within one year or within a normal operating cycle.

Stockholders' Equity

Represents the equity stake currently held by all shareholders of a company, calculated as the total assets minus total liabilities.