Match each of the following accounts to its proper balance sheet classification. Accounts Balance Sheet Classification Accounts Payable Accounts receivable Accumulated depreciation-buildings Buildings Cash Copyrights Income taxes payable Debt investments (long-term) Land Inventory Patents Supplies > > >
Match each of the following accounts to its proper balance sheet classification. Accounts Balance Sheet Classification Accounts Payable Accounts receivable Accumulated depreciation-buildings Buildings Cash Copyrights Income taxes payable Debt investments (long-term) Land Inventory Patents Supplies > > >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![**Balance Sheet Account Classification Exercise**
Match each of the following accounts to its proper balance sheet classification.
| **Accounts** | **Balance Sheet Classification** |
|---------------------------------------|--------------------------------------|
| Accounts Payable | [Dropdown Selection] |
| Accounts Receivable | [Dropdown Selection] |
| Accumulated Depreciation—Buildings | [Dropdown Selection] |
| Buildings | [Dropdown Selection] |
| Cash | [Dropdown Selection] |
| Copyrights | [Dropdown Selection] |
| Income Taxes Payable | [Dropdown Selection] |
| Debt Investments (Long-term) | [Dropdown Selection] |
| Land | [Dropdown Selection] |
| Inventory | [Dropdown Selection] |
| Patents | [Dropdown Selection] |
| Supplies | [Dropdown Selection] |
**Instructions:**
Select the appropriate balance sheet classification for each account provided in the list. This exercise helps in understanding how different accounts are categorized in financial statements for effective financial analysis and reporting.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3c7fd341-d9e3-4a04-99e8-3b4606cc26ea%2Fac73fb26-e3d8-46ea-ba43-ff6585bbd5c6%2Fggfgova_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Balance Sheet Account Classification Exercise**
Match each of the following accounts to its proper balance sheet classification.
| **Accounts** | **Balance Sheet Classification** |
|---------------------------------------|--------------------------------------|
| Accounts Payable | [Dropdown Selection] |
| Accounts Receivable | [Dropdown Selection] |
| Accumulated Depreciation—Buildings | [Dropdown Selection] |
| Buildings | [Dropdown Selection] |
| Cash | [Dropdown Selection] |
| Copyrights | [Dropdown Selection] |
| Income Taxes Payable | [Dropdown Selection] |
| Debt Investments (Long-term) | [Dropdown Selection] |
| Land | [Dropdown Selection] |
| Inventory | [Dropdown Selection] |
| Patents | [Dropdown Selection] |
| Supplies | [Dropdown Selection] |
**Instructions:**
Select the appropriate balance sheet classification for each account provided in the list. This exercise helps in understanding how different accounts are categorized in financial statements for effective financial analysis and reporting.
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