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Line Item for Computers

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Do you agree that a line item for computers may appear as an asset or a liability on the balance sheet depending on if the purchase price has been paid in full or the company is still making payments? Why or why not?

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Solution Summary

This solution explains why line item for computers may not appear as an asset or a liability on the balance sheet.

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I disagree. The computer will be present as asset regardless whether the item is purchased by cash or on account. ...

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