Chapter 4, Problem 9QS

Classifying balance sheet items C3

The following are common categories on a classified balance sheet.

A. Current assets
B. Long-term investments
C. Plant assets
D. Intangible assets
E. Current liabilities
F. Long-term liabilities
For each of the following items, select the letter that identifies the balance sheet category' where the item typically would best appear.

1.	Land held for future expansion
2.	Notes payable (due in five years)
3.	Accounts receivable
4.	Trademarks
5.	Accounts payable
6.	Store equipment
7.	Wages payable
8.	Cash