Question

Running Dog Shoes Inc. has been making running shoes for over two decades. Match the elements of its financial statements.

1000 pairs of running shoes
the brand Running Dog™
current asset
forklift for lifting products
intangible fixed asset
current liability
daily wages to workers
tangible fixed asset
long tem liability
loan for plant expansion

Answer 1

Running Dog Shoes Inc. involves various items in its financial statements, including current and fixed assets, as well as current and long-term liabilities.

Step-by-step explanation:

Running Dog Shoes Inc. is a business that manufactures running shoes. In its financial statements, the elements can be matched as follows:

1. 1000 pairs of running shoes - an inventory item, which is a current asset.
2. The brand Running Dog™ - an intangible fixed asset since it represents the company's intellectual property.
3. Forklift for lifting products - a tangible fixed asset that helps in the production process.
4. Daily wages to workers - considered an expense and not an element of the financial statements.
5. Loan for plant expansion - a long-term liability representing a borrowed amount for future expansion.

Learn more about Financial elements in the statements of Running Dog Shoes Inc.