In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet

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In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank.
A. Current assets
B. Long-term investments
C. Plant assets
D. Intangible assets
E. Current liabilities
F. Long-term liabilities
G. Equity
________ 1. Office equipment
________ 2. Office supplies
________ 3. Buildings
________ 4. Store supplies
________ 5. Accumulated depreciation—Trucks
________ 6. Land (used in operations)
________ 7. Repairs expense
________ 8. Cash
________ 9. Current portion of long-term note payable
________ 10. Long-term investment in stock
________ 11. Depreciation expense—Building
________ 12. Prepaid rent
________ 13. Interest receivable
________ 14. Taxes payable
________ 15. Automobiles
________ 16. Notes payable (due in 3 years)
________ 17. Accounts payable
________ 18. Prepaid insurance
________ 19. Owner, Capital
________ 20. Unearned services revenue

Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Fundamental Accounting Principles

ISBN: 978-0078110870

20th Edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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