Classify.

Exercise 2-5 Classify the following accounts into: A. Current assets 1. Cash & cash equivalents 2. Short-term investments (specify other income) 3. Receivables 4. Inventories 5. Prepaid expenses B. Non-current assets 1. Long-term investments (specify other income) 2. Plant, property, & equipment 3. Biological assets 4. Intangibles 5. Other assets C. Liabilities 1. Current 2. Long-term D. Stockholders' equity 1. Paid in capital 2. Retained earnings 3. Unrealized increases 4. Others E. Comprehensive income statement 1. Net sales 2. Cost of sales, or cost of goods sold 3. Selling expenses 4. Administrative expenses 5. Financing costs 6. Other expenses 7. Other income 8. Income tax expense Net income 9. Other comprehensive income F. None of the above (explain in at least one sentence) Write your answers using capital letters. Some letter answers cannot stand alone; write the related number and other required specifications. If the account is a contra-account, write X before your answer. Example: Allowance for doubtful accounts is X-A3 because it is a deduction from Accounts Receivable. Erasures and alterations will not be honored.Equipment (temporarily idle) 51 2 Allowance for doubtful accounts Unearned rent income 3 52 Allowance for sales discount Gross profit (regular sales) 53 4 Sales discount Foreign currency translation gain 54 Installment accounts receivable due in 10 mos. 5 Ducks in the baluit industry 55 Installment accounts receivable due in 18mos 6 Amortization expense- goodwill 56 Installment accounts receivable(overdue) 7 Amortization expense-patents 57 Unearned gross profit included in no. 54 8 Accounts payable 58 Unearned finance charges included in no. 54 9 Accounts payable, others 59 Work in process, beginning 10 / Bonds payable (due in 5 years) 60 Work in process, ending 11 Stock dividends distributable 61 Trading securities Subscription receivable (with due date) 62 Investment in stocks 13 Subscription receivable (no due date) 63 Investment in bonds 14 Income from donation 64 Investment in partnership 15 Provision for income tax 65 Investment in subsidiary 16 Income tax (single proprietorship) 66 Allowance for purchases discount 17 Carlos, Capital (owner) 67 Purchases discount 18 Gray, Capital (partner) 68 Depreciation expense, delivery equipment 19 Carlos, Drawing (credit balance) 69 Accumulated depreciation 20 Gray, Drawing (debit balance 70 Prepaid insurance 21 Trees in plantation forests 71 Accrued interest income 22 Dairy cattle 72 Accrued interest 23 | Milk from no. 22 73 Holding loss for no. 63 24 Goodwill 76 Holding gain for no. 62 25 Negative goodwill 75 Holding gain for no. 61 26 Trademarks 76 Loss on the sale of no. 61 27 Patents 77 Gain on sale of no. 62 28 Fair value plan assets 78 Accounts receivable 29 Returnable containers 79 Accounts receivable, others 30 Land for growing rice 80 Doubtful accounts expense 31 Premium on common stock 81 Indirect labor 32 Revaluation capital increase, land 82 Office supplies, beginning 33 Direct labor 83 Office supplies used 34 Office supplies unused 84 Scrap inventory 35 Factory supplies unused 85 Abandoned machine (to be sold within the yr. 36 Depletion expense 86 Abandoned machine 37 Donated capital 87 Merchandise inventory, ending 38 Projected benefit obligation 88 Raw materials, ending39 Dividends declared 89 Land 40 Dividends payable 90 Land for future use 41 Cash in bank 91 Construction in progress(50% completed) 42 Cash in bank (restricted) 92 Constriction in progress (95% completed) 43 Bond sinking fund 93 Standby machinery and equipment 44 Payroll fund 94 Breeding animals 45 Cash in closed bank 95 Fruit trees 46 Bank overdraft 96 Warranties expense 47 Vale fund 97 Common stock 48 2-month time deposit 98 Preferred stock 49 4-month BSP treasury bill 99 Treasury common stock 50 365 days time deposit 100 Paid in capital in excess of stated value