Indicate whether each of the following would be reported in the financial statements as a (a) current asset, (b) property, plant, and equipment, (c) current liability, (d) revenue, or (e) expense: 1. Truck 2. Accumulated Depreciation 3. Telephone Expense 4. Fees Earned 5. Wages Payable 6. Prepaid Insurance 7. Office Supplies 8. Dining Expense 9. Unearned Rent

1. Truck -  (b) property, plant, and equipment

A Truck is an asset that is bought with the intentio of being used for over a year, therefore, it falls under this category.

2. Accumulated Depreciation - (e) expense

Accumulated depreciation is an expense that is charged against the value of an asset.

3. Telephone Expense - (e) expense

As the name implies, a telephone expense is an expense (part of overhead).

4. Fees Earned - (d) revenue

Fees earned are revenue that the company earns for providing a good or service, or because of an investment activity.

5. Wages Payable - (c) current liability

Wages payable are current liabilities because they have to be paid in a period of time shorter than a year (more likely shorter than a month). In accrual accounting, they are considered accrued expenses. (expeneses that have already been incurred, but are yet to be paid).

6. Prepaid Insurance - (a) current asset

Prepaid insurance is a current asset because insurance contracts are usually signed for one year.

7. Office Supplies - (e) expense

Office supplies are expenses because they have to be incurred, but they do not significantly help the company produce its goods or services.

8. Dining Expense - (e) expense

This is an expense for self-explanatory reasons.

9. Unearned Rent - (c) current liability

Because it represents money that you owe, not that you possess.

answer; ///i believe that the correct answer is ( inductive check first good

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.