Saturday, 20 January 2018

In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification


In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank. Current assets Long-term investments Plant assets Intangible assets Current liabilities Long-term liabilities Equity 1. Long-term investment in stock 2. Depreciation expense—Building 3. Prepaid rent 4. Interest receivable 5. Taxes payable 6. Automobiles 7. Notes payable (due in 3 years) 8. Accounts payable 9. Prepaid insurance 10. Common stock 11. Unearned services revenue 12. Accumulated depreciation—Trucks 13. Cash 14. Buildings 15. Store supplies 16. Office equipment 17. Land (used in operations) 18. Repairs expense 19. Office supplies 20. Current portion of long-term note payable

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