Problem 4-3A (Algo) Determining balance sheet classifications LO C1 Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item typically would best appear. If an item does not appear on the balance, indicate that instead. Account Title 1. Rental revenue 2. Unearned revenue 3. Accounts receivable 4. Accounts payable 5. Short-term investments 6. Taxes payable (Due in 5 weeks) 7. Supplies 8. Goodwill 9. Office supplies 10. Franchises Classification Account Title Not on balance sheet Current liabilities 11. Store supplies 12. Copyrights 13. Prepaid Insurance (expires in 5 months) 14. Trademarks 15. Cash 16. Patents 17. Interest receivable 18. Machinery 19. Prepaid rent (2 months of Rent) 20. Equipment Classification