Problem:
What does it mean if the question states: Licenses are recorded net of accumulated amortization of $$$$$.
How would I figure out this: Notes receivable are due April 30, 2006 with interest receivable every april 30. notes bear interest at 12%
(Hint: Accrue interest due on December 31, 2004.)
Where do the following fall on the balance sheet?
Short-term Investments in Stock
Cash Restricted for Plant Expansion
Allowance for Doubtful Accounts
Licenses
If you have allowance for doubtful accounts don't you also have bad debt in the liabilities section?
If there is inventory in Assets, shouldn't there be a material expense in the liability section?
And if you have accumulated depreciation, is there a depreciation expense listed in the liabilities section?