Assume that Clark Enterprises uses the following headings on its balance sheet.
(a) Current assets.
(b) Investments.
(c) Property, plant, and equipment.
(d) Intangible assets.
(e) Other assets.
(f) Current liabilities.
(g) Long-term liabilities.
(h) Capital stock.
(i) Paid-in capital in excess of par.
(j) Retained earnings.

Instructions
Indicate by letter how each of the following usually should be classified. If an item should appear in a note to the financial statements, use the letter “N” to indicate this fact. If an item need not be reported at all on the balance sheet, use the letter “X.”
1. Twenty-year issue of bonds payable that will mature within the next year. (No sinking fund exists, and refunding is not planned.)
2. Machinery retired from use and held for sale.
3. Discount on bonds payable. (Assume related to bonds payable in No. 1, above.)
4. Accumulated depreciation.
5. Salaries that company budget shows will be paid to employees within the next year.
6. Accrued interest on bonds payable.
7. Fully depreciated machine still in use.
8. Accrued interest on notes receivable.
9. Premium on preferred stock.
10. Copyrights.
11. Unearned subscriptions revenue.
12. Stock owned in affiliated companies.
13. Advances to suppliers.
14. Treasury stock.
15. Unearned rent revenue.
16. Sales tax payable.
17. Petty cash fund.
18. Unexpired insurance.
19. Noncontrolling interest.