For each account listed, identify the category in which it would appear on a classified balance sheet. Use the following categories: Current Assets; Long-term Investments; Property, Plant, and Equipment; Intangible Assets; Current Liabilities; Long-term Liabilities; and Owner's Equity. If the item does not belong on the classified balance sheet,put an X.Accounta. Land (used n operations)b. Accumulated Depreciation-Equipmentc. Reed, Capitald. Service Revenuee. Investment in Starbucks Corporation (to be held long-term)Accounts Receivableg. Equipmenth. Buildingsi. Notes Payable (due in 10 years)j.Unearned RevenueCash1. Accounts Payablem. Prepaid Rentn. Reed, Withdrawalso. Land (held for investment purposes)p. Depreciation ExpenseCategoryCurrent AssetsLong-term InvestmentsProperty, Plant, and EquipmentIntangible AssetsCurrent LiabilitiesLong-term LiabilitiesOwner's EquityXW

Account and (used in operations) cumulated Depreciation-Equipment bed, Capital ervice Revenue vestment in Starbucks Corporation (to be held long-term) counts Receivable quipment uildings otes Payable (due in 10 years) hearned Revenue ash counts Payable repaid Rent bed, Withdrawals and (held for investment purposes) preciation Expense Category Current Assets Long-term Investments Property, Plant, and Equipment Intangible Assets 2

Account and (used in operations) cumulated Depreciation-Equipment bed, Capital ervice Revenue vestment in Starbucks Corporation (to be held long-term) counts Receivable quipment uildings otes Payable (due in 10 years) hearned Revenue ash counts Payable repaid Rent bed, Withdrawals and (held for investment purposes) preciation Expense Category Current Assets Long-term Investments Property, Plant, and Equipment Intangible Assets 2

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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Accounts Payable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Leasehold Improvements Accumulated Depreciation - Machinery Accumulated Depreciation - Vehicle Overhaul Accumulated Depreciation - Vehicles Advertising Expense Asset Retirement Obligation Buildings Cash Common Shares Contributed Surplus - Donated Capital Cost of Goods Sold Deferred Revenue - Government Grants Depreciation Expense Donation Revenue Equipment Finance Expense Gain on Disposal of Buildings Gain on Disposal of Equipment Gain on Disposal of Machinery Gain on Disposal of Vehicles Gain on Vehicle Overhaul Gain or Loss in Value of Investment Property GST Receivable Interest Expense Interest Payable Inventory Investment Property Land Land Improvements Legal Expense Loss on Disposal of Buildings Loss on Disposal of Equipment Loss on Disposal of Machinery Loss on Disposal of Vehicles Loss on Vehicle Overhaul Machinery Mineral Resources Mortgage Payable No Entry…
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