The various classifications listed below have been used in the past by Maris Company on its balance sheet. It asks your professional opinion concerning the appropriate classification of each of the items 1-14 below.

a. Current Assets

b. Investments

c. Plant and Equipment

d. Intangible Assets

e. Other Assets

f. Current Liabilities

g. Long-Term Liabilities

h. Common Stock and Paid-in Capital in Excess of Par

i. Retained Earnings

Indicate by letter how each of the following items should be classified. If an item need not be reported on the balance sheet, use the letter “X” A letter may be used more than once or not at all . If an item can be classified in more than one category, choose the category most favored by the authors of your textbook.

1. Employees’ payroll deductions.

2. Cash in skinking fund.

3. Rent revenue collected in advance.

4. Equipment retained from use and held for sale.

5. Patents.

6. Payroll cash fund.

7. Good held on consignment

8. Accrued revenue on short-term investments.

9. Advances to sales persons.

10. Premium bonds payable due to years from date

11. Bank overdraft.

12. Salaries which company budget shows will be paid to employees within the next year.

13. Work in process.

14. Appropriation for bonded indebtedness.