Exercise N

Using the legend at the right, determine the category (number) into which you

would place each of these items.

Item

Legend

a.

Land.

1.

Current assets.

b.

Marketable securities.

2.

Long-term investments.

c.

Notes payable, due in three years.

3.

Property, plant, and equipment.

d.

Taxes withheld from employees.

4.

Intangible assets.

e.

Patents.

5.

Current liabilities.

f.

Retained earnings.

6.

Long-term liabilities.

g.

Unearned subscription fees.

7.

Stockholders' equity.

h.

Bonds of another corporation (a 20-year

investment).

i.

Notes payable, due in six months.

j.

Accumulated depreciation