Listed below are items that may appear on a balance
Listed below are items that may appear on a balance sheet.
Item
1. Accounts payable
2. Machinery
3. Inventory
4. Common stock
5. Notes payable (due in 5 years)
6. Cash
7. Copyright
8. Net income less dividends
9. Accumulated depreciation
10. Accounts receivable
Classification
a. Current assets
b. Property, plant, and equipment
c. Intangible assets
d. Current liabilities
e. Long-term liabilities
f. Contributed capital
g. Retained earnings
Required:
Match each item with its appropriate classification on the balance sheet.
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