For each account listed, identify the category that it would appear on a classified balance sheet. Use

Question:

For each account listed, identify the category that it would appear on a classified balance sheet. Use the following categories: Current Assets, Long- term Investments, Plant Assets, , Current Liabilities, Long- term Liabilities, and Stockholders’ Equity. If the item does not belong on the classified balance sheet, put an X.
a. Land (used in operations)
b. Accumulated Depreciation—Equipment
c.
d. Service Revenue
e. Investment in Starbucks (to be held long-term)
f.
g. Equipment
h. Buildings
i. Notes Payable (due in 10 years)
j. Unearned Revenue
k. Cash
l.
m. Prepaid Rent
n. Dividends
o. Land (held for investment purposes)
p. Depreciation Expense

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