Use the following abbreviations to answer this question:
CA…………………………….. Current assets
NCA…………………………... Non-current assets CL Current liabilities
NCL…………………………… Non-current liabilities
SC……………………………… Share capital
RE……………………………... Retained earnings
IS………………………………. Statement of earnings item
SCF……………………………. Statement of cash flows item
Required:
Classify the following items according to where they would appear in the financial statements:
a. Accounts payable
b. Rent revenue
c. Interest expense
d. Property, plant, and equipment
e. Short-term investment in the shares of another company
f. Sales to customers
g. Repayment of a loan owed to a financial institution
h. Common shares
i. Cash
j. Mortgage payable (debt due in 10 years)