Chapter 4 Homework i 2 5 points Skipped Saved Problem 4-3A (Algo) Determining balance sheet classifications LO C1 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, indicate that instead. 1. Land Account Title Classification Plant assets Account Title 11. Utilities expense 12. Services revenue eBook Print References 2. Depreciation expense-Building 3. Office equipment 4. Taxes payable (Due in 5 weeks) 5. Buildings 6. Bonds payable (due in 10 years) 7. Trucks 8. Mortgages payable (due in 6 years) 9. Automobiles 10. Notes payable (due in 3 years) Not on balance sheet Plant assets Current liabilities Plant assets 13. Notes receivable (due in 2 years) 14. Interest payable (due in 1 week) 15. Long-term investment in stock 16. Wages payable 17. Office supplies 18. Salaries payable 19. Merchandise inventory 20. Franchises Mc Graw Hill < Prev 2 of 3 HH Classification Next > Help