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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