Question: 2. The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent accounts. In the blank next to each
2. The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent accounts. In the blank next to each account, write the letter indicating to which category it belongs. (11 Points) a. Current assets e. Current liabilities b. Investments f. Long-term liabilities c. Plant and equipment g. Owner's equity d. Intangible assets h. Not on balance sheet 1. Accumulated Depreciation 7. Trademark 2. Revenues Received in Advance 8. Notes Payable (in five years) 3. Interest Expense 9. Depreciation Expense 4. Wages Payable 10. Prepaid Interest 5. Owner's Capital 11. Land Held for Future Use 6. Inventory
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