- Classification of Balance Sheet Account
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Instructions: Match each account from the box to the choices of proper balance
POST ACTIVITY
Activity
Activity #5: Classification of Balance Sheet Account
Instru
sheet category:
CASE X
1. Patents
2. Building Held for Sale
3. Prepaid Rent
4. Wages Payable
5. Note Payable in Five Years
6. Building Used in Operations
7. Fund Held to Pay Off Long Term Debt
• Current Assets
• Investments
Property, Plant and
Equipment
Cash
Notes
• Intangible Assets
Accou
8. Inventory
Office
9. Prepaid Insurance
10. Depreciation Expense
11. Accounts Receivable
• Current Liabilities
Intere
Land
• Long-Term Liabilities
Build
12. Interest Expense
Accu
• Owner's Equity
13. Unearned Revenues
Equip
14. Short-Term Investments
• Not Applicable
ACcu
15. Accumulated Depreciation
16. Owner's Capital
Accc
Sala
Activity #6: AcCounting Er
Une
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