2 Classify each of the 22 balance sheet accounts into its most likely balance sheet classification a through kBalance Sheet Classificationa. Current assets.b. Investments.c. Property, plant, and equipment. L. Retained earnings.d. Intangible assets.e. Other assets.f. Current liabilities.8. Long-term liabilities.h. Paid-in capital.j. Accumulated other comprehensive income.k. Noncontrolling interestsBalance Sheet Item1. Preferred stock2. Accrued salaries.3. Long term receivable.4. Cash surrender value of life insurance.5. Income tax payable.6. Current maturities of 10-year bond payable.7. Interest payable.8. Work in process inventory.13. Land (in use).14. Dividends payable.9. Note payable, due in 9 months.10. Copyrights.11. Accounts receivable-trade.12. Accumulated depreciation equipment.15. Note receivable (due in 2 years).16. Customer deposits collected in advance.17. Goodwill.18. Land held for speculation.19. Prepaid insurance 16-month prepayment.8ffCx+ x#20. Accrued utilities expense.f21. Paid-in capital in excess of par-common stock h4741474€4f #b42ft44

The balance sheet is a report that summarizes all of an entity's assets, liabilities and equity as…

Classify each of the 22 balance sheet accounts into its most likely balance sheet classification a through k Balance Sheet Classification a. Current assets. b. Investments. h. Paid-in capital. c. Property, plant, and equipment. & Retained earnings. d. Intangible assets. e. Other assets f. Current liabilities. Balance Sheet Item Long-term liabilities. Accumulated other comprehensive income. k. Noncontrolling interests 1. Preferred stock 2. Accrued salaries. 3. Long term receivable. 4. Cash surrender value of life insurance. 7. Interest payable 8. Work in process inventory. 9. Note payable, dua in 9 months. 5. Income tax payable. 6. Current maturities of 10 year bond payable. 13. Land (in use). 14. Dividends payable. 10. Copyrights 11. Accounts receivable-trade. 12. Accumulated depreciation equipment. 15. Note receivable (due in 2 years). 16. Customer deposits collected in advance. 17. Goodwill. 18. Land held for speculation 19. Prepaid insurance 16-month prepayment. 20. Accrued utilities expense. 21. Paid-in capital in excess of par-common stock h K K K

Classify each of the 22 balance sheet accounts into its most likely balance sheet classification a through k Balance Sheet Classification a. Current assets. b. Investments. h. Paid-in capital. c. Property, plant, and equipment. & Retained earnings. d. Intangible assets. e. Other assets f. Current liabilities. Balance Sheet Item Long-term liabilities. Accumulated other comprehensive income. k. Noncontrolling interests 1. Preferred stock 2. Accrued salaries. 3. Long term receivable. 4. Cash surrender value of life insurance. 7. Interest payable 8. Work in process inventory. 9. Note payable, dua in 9 months. 5. Income tax payable. 6. Current maturities of 10 year bond payable. 13. Land (in use). 14. Dividends payable. 10. Copyrights 11. Accounts receivable-trade. 12. Accumulated depreciation equipment. 15. Note receivable (due in 2 years). 16. Customer deposits collected in advance. 17. Goodwill. 18. Land held for speculation 19. Prepaid insurance 16-month prepayment. 20. Accrued utilities expense. 21. Paid-in capital in excess of par-common stock h K K K

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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