Use the same abbreviations as in AP1-8 to answer the following question.
In AP

Required:
Classify the following items according to where they would appear in the financial statements:
a. Rent payable
b. Amounts owed by customers of the company
c. Administrative expense
d. Proceeds received from taking out a long-term bank loan
e. Office supplies
f. Net earnings for the year
g. Cash proceeds from the sale of old equipment
h. Increase in the cash balance for the year
i. Income taxes expense
j. Cost to the company of inventory sold to customers this year
k. Proceeds from issuing common shares during the year

Transcribed Image Text:

CA NCA CL NCL SC RE SI SCF SCE Current assets Non-current assets Current liabilities Non-current liabilities Share capital Retained earnings Statement of income item Statement of cash flows item Statement of changes in equity item