Testbank Exercise 113 The various classifications listed below have been used in the past by Maris Company on its balance sheet. It asks your professional opinion concerning the appropriate classification of each of the items 1-14 below. Indicate how each of the following items should be classified. If an item need not be reported in the balance sheet, use "Not Reported" for your answer. 1. Employees' payroll deductions. 2. Cash in sinking fund. 3. Rent revenue collected in advance. 4. Equipment retired from use and held for sale. 5. Patents. 6. Payroll cash fund. 7. Goods held on consignment. 8. Accrued revenue on short-term investments. 9. Advances to salespersons. 10. Premium on bonds payable due two years from date. 11. Bank overdraft. 12. Salaries which company budget shows will be paid to employees within the next year. 13. Work in process. 14. Appropriation for bonded indebtedness. Click if you would like to Show Work for this question: Open Show Work