According to a recent annual report of Celestica Inc., the company is a “key player in the new technology- driven global economy.” The company provides a broad range of services, including “design, prototyping, assembly, testing, product assurance, supply chain management, worldwide distribution, and after- sales service.” The following are several of the accounts from a recent statement of financial position:
(1) Trade accounts receivable
(2) Short- term borrowings
(3) Contributed capital
(4) Long- term debt
(5) Prepaid expenses and other assets
(6) Intangible assets
(7) Property, plant, and equipment
(8) Retained earnings
(9) Trade accounts payable
(10) Cash and short- term investments
(11) Accrued liabilities
(12) Other long- term liabilities
(13) Inventories
(14) Income taxes payable
Indicate how each account normally should be categorized on a classified statement of financial position. Use CA for current asset, NCA for non- current asset, CL for current liability, NCL for non-current liability, and SE for shareholders’ equity. Also indicate whether the account normally has a debit or a credit balance.

  • CreatedAugust 04, 2015
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