The major balance sheet classifications are listed in E2-1

.

Instructions Classify each of the following financial statement items based upon the major balance (LO 1), AP PaaS : ;
sheet classifications listed in E2-1

.

Transcribed Image Text:

Prepaid advertising Equipment Trademarks Salaries and wages payable Income taxes payable Retained earnings Accounts receivable Land (held for future use) Patents Bonds payable Common stock Accumulated depreciation- equipment Unearned sales revenue Inventory