Indicate in which section of the balance sheet each of the following accounts is classified. Use the

Question:

Indicate in which section of the balance sheet each of the following accounts is classified. Use the symbols CA for current assets, NCA for noncurrent assets, CL for current liabilities, LTL for long-term liabilities, and SHE for stockholders’ equity.

a. Prepaid Rent

b. Dividends Payable

c. Salaries Payable

d. Accumulated Depreciation: Equipment

e. Retained Earnings

f. Mortgage Payable (due in 15 years)

g. Unearned Service Revenue

h. Accounts Receivable

i. Land

j. Office Supplies

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...