4. Classify each of the following as a current asset, a fixed asset, a currentliability, or a long-term liability:(a) Accounts Receivable(b) Land(c) Bank Loan (6 months)(d) Office Supplies(e) Delivery Truck(f) Prepaid Rent(8) Automobile(h) Mortgage Payable(i) Taxes Owing(i) Government Bonds(k) Accounts Payable(1

Whenever it comes to a company's financial performance or long-term health, both assets, as well as…

Answered: 4. Classify each of the following as a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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6
ased on these items, what is the total of the (a) liquid assets and (b) current liabilities? Checking account balance $ 935 Savings account balance $ 3,425 Retirement account balance 58,500 Current student loan payment due 370 Credit card balance 192 Investment account balance 9,500 Rare jewelry 600 Mortgage 185,500
The following is list of accounts each represented by letter(s). A Accounts Payable U Loss from discontinued operations B Accounts Receivable V Losses due to fire E Accumulated Depreciation-Equip W Merchandise Inventory F Bonds Payable X Notes Payable G Cash Y Premium on Bonds Payable H Cost of Goods Sold Z Rent Expense I Capital Lease Payable AA Rent Revenue J Discount on Bonds Payable BB Retained Earnings K Equipment EE Salaries and Wages Payable L Federal Income Tax Withheld Payable FF Sales Returns M Federal Unemployment Taxes Payable GG Sales Revenues N FICA Taxes Payable HH Sales Taxes Payable O Income Summary II Shipping Expense P Income Taxes Payable JJ State Income Tax Withheld Payable Q Interest Expense KK State Unemployment Taxes Payable R Interest Payable LL Supplies S Land MM Tax Expense T Land Improvement NN Unearned Rent Revenue Example of Answer: G4000D,B2000D,GG5000C,HH1000CWhere G denotes…
Please lable the following accounts as Assets, Liability, or Equity. Also if they are a DR or CR balance.1) Accounts Receivable2) Smith, Capital3) Wages Payable4) Cash5) Interest Receivable6) Taxes Payable7) Smith, Drawings8) Retained Earnings9) Buildings10) Land1) Accounts Payable2) Common Stock3) Bonds Payble4) Furniture and fixtures5) Inventory6) Interest Payable7) Dividends8) Additional paid-in-capital9) Patents and Copyright10) Short-Term Investments
With given statements in excell please fill in the ratio charts thank you!!!!
Identifying and Classifying Financial Statement Items For each of the following items, indicate whether they would be reported in the balance sheet (B) or income statement (1). (a) Machinery (b) Supplies expense (c) Inventories (d) Sales (e) Common stock (f) Factory buildings (g) Receivables (h) Taxes payable (i) Taxes expense (i) Cost of goods sold (k) Long-term debt (1) Treasury stock ◆ ◆ ◆ ♦ ♦ ◆ ◆ ♦ ♦
D1. Account
Could you tell me if the following Accounts are Assets, Liabilities or Equity?1) Accounts Receiveable2) Smith, Capital3) Wages, Payable4) Cash5) Interest Receivable6) Taxes Payable7) Smith, Drawings8) Retained Earnings9) Buildings10) Land
Account Titles Debit CreditCash $ 7Accounts Receivable 3Supplies 3Equipment 9Accumulated Depreciation $ 2Software 6Accumulated Amortization 2Accounts Payable 4Notes Payable (short-term) 0Salaries and Wages Payable 0Interest Payable 0Income Taxes Payable 0Deferred Revenue 0Common Stock 15Retained Earnings 5Service Revenue 0Depreciation Expense 0Amortization Expense 0Salaries and Wages Expense 0Supplies Expense 0Interest Expense 0Income Tax Expense 0Totals $ 28 $ 28Transactions during 2018 (summarized in thousands of dollars) follow:Borrowed $25 cash on July 1, 2018, signing a six-month note payable.Purchased equipment for $28 cash on July 2, 2018.Issued additional shares of common stock for $5 on July 3.Purchased software on July 4, $3 cash.Purchased supplies on July 5 on account for future use, $7.Recorded revenues on December 6 of $58, including $8 on credit and $50 received in…
Select the balance sheet category where the items given would best typically appear. Items 1. Bond investment to be held through maturity in five years 2. Trademarks 3. Accounts receivable 4. Notes payable (due in five years) 5. Wages Payable 6. Store equipment 7. Accounts payable 8. Notes receivable (due in 2 months) Balance Sheet Category

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