Additional Problem 3

For each of the following statement of financial position accounts, indicate the proper 2020 statement of financial position classification:

(a)		Accounts payable		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(b)		Accounts receivable		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(c)		Accumulated depreciation - buildings		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(d)		Allowance for doubtful accounts		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(e)		Bonds payable, due May 1, 2027		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(f)		Buildings		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(g)		Common shares		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(h)		Contributed surplus		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(i)		Copyrights		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(j)		Inventory		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(k)		Land		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(l)		Equipment		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(m)		Patents		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(n)		Prepaid insurance		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(o)		Retained earnings		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(p)		Salaries and wages payable		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity
(q)		Taxes payable		Current assetCurrent liabilityIntangible assetLong-term liabilityProperty, plant, and equipmentShareholders equity