In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank. A. Current assets E. Current liabilities B. Long-term investments F. Long-term liabilities C. Plant assets G. Equity D. Intangible assets 1. Commissions earned 2. Interest receivable 3. Long-term investment in stock 4. Prepaid insurance (4 months of rent) 5. Machinery 6. Notes payable (due in 15 years) 7. Copyrights 8. Current portion of long-term note payable 9. Accumulated depreciation—Trucks 10. Office equipment 11. Rent receivable 12. Salaries payable 13. Income taxes payable (due in 11 weeks) 14. Owner, Capital 15. Office supplies 16. Interest payable 17. Rent revenue 18. Notes receivable (due in 120 days) 19. Land (used in operations) 20. Depreciation expense—Trucks

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification.
If the item should not appear on the balance sheet, enter a Z in the blank.
A. Current assets E. Current liabilities
B. Long-term investments F. Long-term liabilities
C. Plant assets G. Equity
D. Intangible assets 1. Commissions earned
2. Interest receivable
3. Long-term investment in stock
4. Prepaid insurance (4 months of rent)
5. Machinery
6. Notes payable (due in 15 years)
7. Copyrights
8. Current portion of long-term
note payable
9. Accumulated depreciation—Trucks
10. Office equipment
11. Rent receivable
12. Salaries payable
13. Income taxes payable
(due in 11 weeks)
14. Owner, Capital
15. Office supplies
16. Interest payable
17. Rent revenue
18. Notes receivable (due in 120 days)
19. Land (used in operations)
20. Depreciation expense—Trucks

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