For each of the following accounts, determine its classification on the balance sheet using the following classifications.

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For each of the following accounts, determine its classification on the balance sheet using the following classifications. Use OOE for other owners’ equity items that are not contributed capital or retained earnings. Put the letters in the spaces provided.
CA Current assets
LTL Long- term liabilities
INV Investments
OL Other liabilities
PPE Property, plant, and equipment
CC Contributed capital
INT Intangibles
RE Retained earnings
OA Other assets
OOE Other owners’ equity
CL Current liabilities
________ 1. Accounts Payable
________ 2. Accumulated Depreciation
________ 3. Bonds Payable
________ 4. Building
________ 5. Cash
________ 6. Common Stock
________
7. Land Held for Speculation
________ 8. Marketable Securities
________ 9. Treasury Stock
________ 10. Wages Payable
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...
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...
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