From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No item required" from the selection choices. Account Title 1. Long-term investment in stock 2. Wages payable 3. Office supplies 4. Salaries payable 5. Merchandise inventory 6. Current portion of long-term note payable 7. Short-term notes receivable (due in 1 month) 8. Unearned services revenue 9. Accounts receivable 10. Accounts payable Classification Account Title 11. Short-term investments 12. Taxes payable (Due in 5 weeks) 13. Supplies 14. Goodwill 15. Office supplies 16. Franchises 17. Store supplies 18. Copyrights 19. Prepaid Insurance (Expires in 5 months) 20. Trademarks Classification
From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No item required" from the selection choices. Account Title 1. Long-term investment in stock 2. Wages payable 3. Office supplies 4. Salaries payable 5. Merchandise inventory 6. Current portion of long-term note payable 7. Short-term notes receivable (due in 1 month) 8. Unearned services revenue 9. Accounts receivable 10. Accounts payable Classification Account Title 11. Short-term investments 12. Taxes payable (Due in 5 weeks) 13. Supplies 14. Goodwill 15. Office supplies 16. Franchises 17. Store supplies 18. Copyrights 19. Prepaid Insurance (Expires in 5 months) 20. Trademarks Classification
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
From the dropdown box beside each numbered
Transcribed Image Text:From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item
should not appear on the balance sheet, choose the option "No item required" from the selection choices.
Account Title
1. Long-term investment in stock
2. Wages payable
3 Office supplies
4. Salaries payable
5. Merchandise inventory
6
Current portion of long-term note
payable
7
Short-term notes receivable (due in 1
month)
8 Unearned services revenue
9. Accounts receivable
10. Accounts payable
Classification
Account Title
11. Short-term investments
12. Taxes payable (Due in 5 weeks)
13. Supplies
14. Goodwill
15. Office supplies
16. Franchises
17. Store supplies
18. Copyrights
19. Prepaid Insurance (Expires in 5 months)
20. Trademarks
Classification
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