Identifying Accounts on a Classified Balance Sheet and Their Normal Debit or Credit Balances

Exxon Mobil Corporation explores, produces, refines, markets, and supplies crude oil, natural gas, and petroleum products in the United States and around the world. The following are accounts from a recent balance sheet of Exxon Mobil Corporation:

Required:
For each account, indicate how it normally should be categorized on a classified balance sheet. Use CA for current asset, NCA for noncurrent asset, CL for current liability, NCL for noncurrent liability, and SE for stockholders' equity. Also indicate whether the account normally has a debit or creditbalance.

Balance Sheet Debit or Credit Classification Balance (1) Notes and Loans Payable (short-term) (2) Materials and Supplies (3) Contributed Capital (4) Patents (an intangible asset) (5) Income Taxes Payable (6) Long-Term Debt (7) Marketable Securities (short-term) (8) Property, Plant, and Equipment (9) Retained Earnings (10) Notes and Accounts Receivable (short-term) (11) Investments (long-term) (12) Cash and Cash Equivalents (13) Accounts Payable (14) Crude Oil Products and Merchandise