What caption would automobiles and trucks be reported


Response to the following problem:

Enterprise Supplies Co. has a fleet of automobiles and trucks for use by salespersons and for delivery of office supplies and equipment. Bizarro Auto Sales Co. has automobiles and trucks for sale.

Under what caption would the automobiles and trucks be reported on the balance sheet of

(a) Enterprise Supplies Co.,

(b) Bizarro Auto Sales Co.?

 

 

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Accounting Basics: What caption would automobiles and trucks be reported
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