Examine Riverside’s assets as follows: 1. What is Riverside’s largest category of assets?

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QUESTION:

Examine Riverside’s assets as follows:

1. What is Riverside’s largest category of assets? List all 2017 assets in the largest category and their amounts as reported by Riverside.

2. What was Riverside’s cost of property and equipment on May 31, 2017? What was the carrying amount of property and equipment on this date? Why is carrying an amount less than cost?


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