QS 4-12 (Algo) Classifying balance sheet items LO C1 Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, and Long-Term Liabilities. For each of the following items, identify the balance sheet category where the item would best appear. Items 1. Notes payable (due in three years) 2. Prepaid rent (expires in 3 weeks) 3. Wages payable 4. Equipment 5. Copyrights 6. Inventory 7. Franchises 8. Store equipment Balance Sheet Category

QS 4-12 (Algo) Classifying balance sheet items LO C1 Common categories of a classified balance sheet include Current Assets, Long-Term investments, Plant Assets, Intangible Assets, Current Liabilities, and Long-Term Liabilities. For each of the following items, identify the balance sheet category where the item would best appear