Question: please complete both tables Check my work a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current
Check my work a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Paid-in capital i. Retained earnings Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) nces Equipment Accounts payable Allowance for uncollectible accounts Land (hold for investment) Notes payable (due in 5 years) Deferred revenue (for the next 12 months) Notes payable (due in 6 months) Accumulated amount of net income less dividends Investment in XYZ Corp. (long-term) Inventory Patent Land (used in operations) Accrued liabilities (due in 6 months) Prepaid rent (for the next 9 months) Common stock Building (used in operations) Cash Income taxes payable a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities 9. Long-term liabilities h. Paid-in capital i. Retained earnings Required: For each of the following 2021 balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) Interest payable (due in 3 months) Franchise Accumulated depreciation Prepaid insurance (for 2022) Bonds payable (due in 10 years) Current maturities of long-term debt Notes payable (due in 3 months) Long-term receivables Restricted cash (will be used to retire bonds in 10 years) Supplies Machinery Land (used in operations) Deferred revenue (for 2022) Copyrights Common stock Land (held for speculation) Cash equivalents Salaries payable 7. 17
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