The following are the major balance sheet classification.

Current assets (CA)                                  Current liabilities (CL)
Long-term investments (LTI)                    Long-term liabilities (LTL)
Property, plant, and equipment (PPE)     Stockholders’ equity (SE)
Intangible assets (IA)

Instructions

Classify each of the following accounts taken from Geraldo Company’s balance sheet.

______ Accounts payable                         ______ Accumulated depreciation
______ Accounts receivable                     ______ Buildings
______ Cash                                             ______ Land
______ Common stock                             ______ Long-term debt
______ Patents                                          ______ Supplies
______ Salaries and wages payable         ______ Equipment
______ Inventory                                      ______ Prepaid expenses
______ Investments