Question: The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent data found on balance sheets. In the blank
The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent data found on balance sheets. In the blank next to each account, write the letter indicating to which category it belongs.
| A. | Current assets | ||
|---|---|---|---|
| B. | Investments | ||
| C. | Property, plant, and equipment | ||
| D. | Intangible assets | ||
| E. | Current liabilities | ||
| F. | Long-term liabilities | ||
| G. | Stockholders equity | ||
| H. | Not on the balance sheet |
| 1. | Accumulated depreciation-equipment | select a letter ABCDEFGH | |||
|---|---|---|---|---|---|
| 2. | Common stock | select a letter ABCDEFGH | |||
| 3. | Interest expense | select a letter ABCDEFGH | |||
| 4. | Salaries and wages payable | select a letter ABCDEFGH | |||
| 5. | Retained earnings | select a letter ABCDEFGH | |||
| 6. | Inventory | select a letter ABCDEFGH | |||
| 7. | Patents | select a letter ABCDEFGH | |||
| 8. | Prepaid insurance | select a letter ABCDEFGH | |||
| 9. | Mortgage payable | select a letter ABCDEFGH | |||
| 10. | Land (held for investment) | select a letter ABCDEFGH |
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