As described in a recent annual report, Verizon Communications provides wireless voice and data services across one

Question:

As described in a recent annual report, Verizon Communications provides wireless voice and data services across one of the most extensive wireless networks in the United States. Verizon now serves more than 100 million customers, making it the largest wireless service provider in the United States in terms of the total number of customers. The following are accounts from a recent for Verizon:
(1) Retained Earnings
(3) Accrued Expenses Payable
(4) Prepaid Expenses
(5) Long-Term Investments
(7) Plant, Property, and Equipment
(8) Short-Term Investments
(10) Long-Term Debt
Required:
For each account, indicate (1) whether the account is usually classified as a current asset (CA), noncurrent asset (NCA), current liability (CL), noncurrent liability (NCL), or stockholders' equity (SE) item and (2) whether the account usually has a debit or credit balance.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...