Select for each of the following items relating to sections of a balance sheet as Current Assets, Property and Equipment, Current Liabilities, Long-Term Liabilities, or Owner's Equity. Items Sections a. Cash b. Commissions payable c. Accounts receivable d. Equipment e. Merchandise inventory f. Note Payable (due now) g. Accumulated depreciation, Equipment h. Wesley, Capital j. Note payable (due in 5 years)

Select for each of the following items relating to sections of a balance sheet as Current Assets, Property and Equipment, Current Liabilities, Long-Term Liabilities, or Owner's Equity. Items Sections a. Cash b. Commissions payable c. Accounts receivable d. Equipment e. Merchandise inventory f. Note Payable (due now) g. Accumulated depreciation, Equipment h. Wesley, Capital j. Note payable (due in 5 years)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 11EA: For each of the following accounts, identify in which section of the classified balance sheet it...

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Items	Sections
a. Cash
b. Commissions payable
c. Accounts receivable
d. Equipment
e. Merchandise inventory
f. Note Payable (due now)
g. Accumulated depreciation, Equipment
h. Wesley, Capital
j. Note payable (due in 5 years)

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