Identify the section of the balance sheet in which the following accounts would be located: Current Assets

Question:

Identify the section of the in which the following accounts would be located: Current Assets (CA), Long-Term Assets (LTA), Current Liabilities (CL), or Long-Term Liabilities (LTL).
1. Bonds Payable
2. Interest Payable
3. Leased Equipment
4. Discount on Bonds Payable
5. Accumulated Depreciation on Leased Equipment
6. Lease Payable (due in four years)
7. Mortgage Notes Payable
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...