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1 Problem #1-Matching Set with Balance Sheet accounts Directions: The various classifications listed below have been used in the past by Maris Company on its Balance Sheet. Determine the best Balance Sheet classification for each item below. A Current Assets B Investments C Plant and Equipment D Intangible Assets E Other Assets F Current Liabilities G Long-Term Liabilities H Common Stock and Paid-in Capital in Excess of Par I Retained Earnings X Not on the Balance Sheet 6 8 10 12 13 1 14 2 15 3 16 4 17 5 18 6 19 7 20 8 21 9 22 10 Answer Description of Conceptual Framework of Accounting: Trademark Raw Materials Inventory Bonds payable Accumulated depreciation, Buildin Rent revenue collected in advance Land retired from use and held for resale Trading investments in stocks and bonds Bad Debt Expense Accrued interest on short-term investments Accounts payable