The following are the major balance sheet classifications.

Current assets (CA)                                  Current liabilities (CL)
Long-term investments (LTI)                    Long-term liabilities (LTL)
Property, plant, and equipment (PPE)     Owner’s equity (OE)
Intangible assets (IA)

Instructions
Classify each of the following accounts taken from E. Williams Company’s balance sheet.

______ Accounts payable                     ______ Accumulated depreciation
______ Accounts receivable                 ______ Buildings
______ Cash                                         ______ Land
______ Owner’s capital                        ______ Long-term debt
______ Patents                                      ______ Supplies
______ Salaries and wages payable      ______ Equipment
______ Inventory                                   ______ Prepaid expenses
______ Investments