Question

Following are items that can be found in a balance sheet:
•Intangible assets
•Accounts payable
•Inventory
•Cash
•Notes payable (due in ten years)
•Prepaid expenses
•Property, plant & equipment
•Common stock
•Accounts receivable
•Retained earnings
•Notes payable (due in six months)
•Additional paid-in capital
Required:
Determine the correct balance sheet classification for each item listed. Choices are current assets, long-term assets, current liabilities, long-term liabilities, and stockholders’ equity.


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  • CreatedMarch 27, 2015
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