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The following are the major balance sheet classifications.   Current assets (CA)                                         Current liabilities (CL)    Long-term investments (LTI)                          Long-term liabilities (LTL)    Property, plant, and equipment (PPE)             Owner’s equity (OE)    Intangible assets (IA) Required: Classify each of the following accounts taken from Roberts Company’s balance sheet. ______ Accounts payable                         (4)  ______ Accumulated depreciation (2) ______ Accounts receivable                     (5) ______ Buildings       (3) ______ Roberts, Capital                            (6) ______ Long-term d

The following are the major balance sheet classifications.   Current assets (CA)                                         Current liabilities (CL)    Long-term investments (LTI)                          Long-term liabilities (LTL)    Property, plant, and equipment (PPE)             Owner’s equity (OE)    Intangible assets (IA) Required: Classify each of the following accounts taken from Roberts Company’s balance sheet. ______ Accounts payable                         (4)  ______ Accumulated depreciation (2) ______ Accounts receivable                     (5) ______ Buildings       (3) ______ Roberts, Capital                            (6) ______ Long-term d

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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. The following are the major balance sheet classifications.

  Current assets (CA)                                         Current liabilities (CL)

   Long-term investments (LTI)                          Long-term liabilities (LTL)

   Property, plant, and equipment (PPE)             Owner’s equity (OE)

   Intangible assets (IA)

Required:

Classify each of the following accounts taken from Roberts Company’s balance sheet.

  1. ______ Accounts payable                         (4)  ______ Accumulated depreciation

(2) ______ Accounts receivable                     (5) ______ Buildings

      (3) ______ Roberts, Capital                            (6) ______ Long-term debt

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