Principles of Accounting: Chapters 1-13
Principles of Accounting: Chapters 1-13
12th Edition
ISBN: 9781133593102
Author: Belverd E., Jr, Ph.d. Needles, Marian, Ph.D. Powers, Susan V. Crosson
Publisher: Cengage Learning
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Chapter 5, Problem 3SE

Tell whether each of the following accounts is a current asset; an investment; property, plant, and equipment; an intangible asset; a current liability; a long-term liability; owner’s equity; or not on the balance sheet:

  1. 1. Delivery Trucks
  2. 2. Accounts Payable
  3. 3. Note Payable (due in 90 days)
  4. 4. Delivery Expense
  5. 5. Owner’s Capital
  6. 6. Prepaid Insurance
  7. 7. Trademark
  8. 8. Investment to Be Held Six Months
  9. 9. Factory Not Used in Business
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