You are provided with the following selected balance sheet accounts for entertainment retailer Live Nation Entertainment, Inc.:

Question:

Account payable

Account receivable

Accumulated depreciation

Cash

Goodwill

Land, buildings and improvements

Long-term debt

Common shares

Computer equipment

Current portion of long-term debt

Furniture and equipment

Prepaid expenses

Unearned revenues

Instructions

Identify the balance sheet (statement of financial position) category for classifying each account. For example, accumulated depreciation should be classified as a contra asset in the property, plant, and equipment section of Live Nation's balance sheet.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...