The following are the major balance sheet classifications. Current assets (CA) Current liabilities (CL) Long-term investments (LTI)
Question:
The following are the major balance sheet classifications.
Current assets (CA) Current liabilities (CL)
Long-term investments (LTI) Long-term liabilities (LTL)
Property, plant, and equipment (PPE) Common stock (CS)
Intangible assets (IA) Retained earnings (RE)
Match each of the following accounts to its proper balance sheet classification.
_____ Accounts payable _____ Income taxes payable
_____ Accounts receivable ` _____ Investment in long-term bonds
_____ Accumulated depreciation _____ Land
_____ Buildings _____ Inventory
_____ Cash _____ Patent
_____ Goodwill _____ Supplies
Step by Step Answer:
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso