This addresses the current and long term assets of Love’s.
You are reviewing the balance sheet of Love’s Industries, manufacturer of assorted electronic components. You observe the following account classifications.
a. Accounts receivable
b. Property, plant, and equipment
d. Intangible assets
e. Investment in marketable securities
For each of the classifications listed above, indicate whether it probably involves current assets or long-term assets. For each classification, give two examples of assets that might be reported there. Also indicate what attribute is being reported for each example you give (e.g., original cost, depreciated cost, market value, and so on).