Chapter 3 Homework 6 3 Saved 2 points Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item typically would best appear. If an item does not appear on the balance sheet, indicate that instead. Account Title 1. Prepaid insurance (Expires in 5 months) 2. Trademarks eBook 3. Cash 4. References Patents 5. Interest receivable 6. Machinery 7. Prepaid rent (2 months of Rent) 8. Equipment 9. Repairs expense 10. Land (used in operations) Classification Account Title 11. Depreciation expense-Building 12. Office equipment 13. Common stock 14. Buildings 15. Bonds payable (due in 10 years) 16. Accumulated depreciation-Trucks 17. Mortgages payable (due in 6 years) 18. Automobiles 19. Notes payable (due is 3 years) 20. Land held for future expansion Classification