Chapter 5, Problem 3EA

The lettered items that follow represent a classification scheme for a balance sheet, and the numbered items in the list are account titles. Match each account with the letter of the category in which it belongs.

1. a. Current liabilities
2. b. Owner’s equity
3. c. Current assets
4. d. Intangible assets
5. e. Property, plant, and equipment
6. f. Investments
7. g. Long-term liabilities
8. h. Not on balance sheet
9. 1. Patent
10. 2. Building Held for Sale
11. 3. Prepaid Rent
12. 4. Wages Payable
13. 5. Note Payable in Five Years
14. 6. Building Used in Operations
15. 7. Fund Held to Pay Off Long-Term Debt
16. 8. Inventory
17. 9. Prepaid Insurance
18. 10. Depreciation Expense
19. 11. Accounts Receivable
20. 12. Interest Expense
21. 13. Unearned Revenue
22. 14. Short-Term Investments
23. 15. Accumulated Depreciation
24. 16. Owner’s Capital