Question

The following accounts appear on the worksheet of Santo’s Craft Store at December 31, 2016. Indicate the section of the classified balance sheet in which each account will be reported.
SECTIONS OF CLASSIFIED BALANCE SHEET
a. Current Assets
b. Plant and Equipment
c. Current Liabilities
d. Long-Term Liabilities
e. Owner’s Equity
ACCOUNTS
1. Accounts Receivable
2. Delivery Van
3. Prepaid Insurance
4. Notes Payable, due 2017
5. Store Supplies
6. Accounts Payable
7. Merchandise Inventory
8. Ray Lynch, Capital
9. Cash
10. Unearned Subscriptions Income



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  • CreatedAugust 08, 2014
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