Question: The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent accounts found on balance sheets. In the blank
The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent accounts found on balance sheets. In the blank next to each account, write the letter indicating to which category it belongs. A. Current assets E. Current liabilities B. Long-term investments F. Long-term liabilities C. Property, plant, and equipment G. Owner's cquity D. Intangible assets 1. Cash 6. Inventory 7. Forklift 2. Owner's Capital 3. Interest Expense Payable 4. Salaries and Wages Payable 5. Trademark 8. Prepaid Rent 9. Mortgage Payable 10. Bonds Held for Investment
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