Accounting help need done in a couple hours

Chapter 2 Homework

Due Week 1 and worth 10 points

Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your homework assignment using the homework assignment link in the course shell.

BE2-1

The following are the major balance sheet classifications:

Current assets (CA)	Current liabilities (CL)
Long-term investments (LTI)	Long-term liabilities (LTL)
Property, plant, and equipment (PPE)	Common stock (CS)
Intangible assets (IA)	Retained earnings (RE)

Match each of the following accounts to its proper balance sheet classification.

_____ Accounts payable	_____ Income taxes payable
_____ Accounts receivable	_____ Investment in long-term bonds
_____ Accumulated depreciation	_____ Land
_____ Buildings	_____ Inventory
_____ Cash	_____ Patent
_____ Goodwill	_____ Supplies

BE2-5

These selected condensed data are taken from a recent balance sheet of Bob Evans Farms (in millions of dollars).

Cash	$ 29.3
Accounts receivable	20.5
Inventory	28.7
Other current assets	24.0
Total current assets	$102.5
Total current liabilities	$201.2

Compute working capital and the current ratio.

BE2-9

Given the characteristics of useful accounting information, complete each of the following statements.

(a) For information to be _____, it should have predictive and confirmatory value.

(b) _____ means that information accurately depicts what really happened.

(c) _____ means using the same accounting principles and methods from year to year within a company.