Question: For each account listed identify the category that it would

For each account listed, identify the category that it would appear on a ­classified balance sheet. Use the following categories: Current Assets, Long- term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long- term Liabilities, and Stockholders’ Equity. If the item does not belong on the classified balance sheet, put an X.
a. Land (used in operations)
b. Accumulated Depreciation—Equipment
c. Common Stock
d. Service Revenue
e. Investment in Starbucks Corporation (to be held long-term)
f. Accounts Receivable
g. Equipment
h. Buildings
i. Notes Payable (due in 10 years)
j. Unearned Revenue
k. Cash
l. Accounts Payable
m. Prepaid Rent
n. Dividends
o. Land (held for investment purposes)
p. Depreciation Expense

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  • CreatedJanuary 16, 2015
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