Principles of Accounting
Principles of Accounting
12th Edition
ISBN: 9781133626985
Author: Belverd E. Needles, Marian 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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