Question: Problem 4 (20 Points) Presented below are the captions of Chan Company's balance sheet. (a) Current assets (b) Investments (c) Property, plant, and equipment.(h) Capital

Problem 4 (20 Points) Presented below are the captions of Chan Company's balance sheet. (a) Current assets (b) Investments (c) Property, plant, and equipment.(h) Capital stock (d) Intangible assets (e) Other assets () Current liabilities (8) Non-current liabilities (i) Additional paid-in capital. G) Retained earnings. Instructions Indicate by letter where each of the following items would be classified. 1Land held for future expansion. 9. Trading securities 2. Prepaid insurance 10. Preferred stock. 3. Taxes payable. 11. Allowance for doubtful accounts. 4. Bonds payable (due in 10 year). 12. Accounts receivable. 5. Notes payable (due next year). 13. Goodwill. 6. Paid in capital in excess of par. 14. Current portion of long-term debt. 7. Wages payable. 15. Buildings. 8. Merchandise inventory. 16. Premium on bonds payable

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