According to a recent annual report of Celestica Inc., the company is a key player in the

Question:

According to a recent annual report of Celestica Inc., the company is a “key player in the new technology- driven global economy.” The company provides a broad range of services, including “design, prototyping, assembly, testing, product assurance, supply chain management, worldwide distribution, and after- sales service.” The following are several of the accounts from a recent statement of financial position:

(1) Trade accounts receivable
(2) Short- term borrowings

(3) Contributed capital

(4) Long- term debt

(5) Prepaid expenses and other assets

(6) Intangible assets

(7) Property, plant, and equipment

(8) Retained earnings

(9) Trade accounts payable
(10) Cash and short- term investments

(11) Accrued liabilities

(12) Other long- term liabilities

(13) Inventories

(14) Income taxes payable

Required:

Indicate how each account normally should be categorized on a classified statement of financial position. Use CA for current asset, NCA for non- current asset, CL for current liability, NCL for non-current liability, and SE for shareholders’ equity. Also indicate whether the account normally has a debit or a credit balance.

Intangible Assets
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