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2. (20 points) In a Balance Sheet, the following items are classified as: A. Current Asset B. Fixed Asset C. Current Liability D. Long Term

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2. (20 points) In a Balance Sheet, the following items are classified as: A. Current Asset B. Fixed Asset C. Current Liability D. Long Term Liability Circle the Classification for each of the five items shown in the table below: Item Classification Amount A B D 75,000 A B D 100,000 75,000 A B D Buildings (2 pt) Mortgage (2 pt) Cash (2 pt) Accounts Receivable (2 pt) Inventory (2 pt) Accounts Payable (2 pt) A B D 25,000 A B D 75,000 A B D 125,000 What is the Net worth from the table above? (8 pt)

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