Question
Balance Sheet Classifications: Mark Diedrichsens Clothing, Inc. used the following headings on the companys December 31, 2014 balance sheet. (Note that letters appear more than
Balance Sheet Classifications: Mark Diedrichsens Clothing, Inc. used the following headings on the companys December 31, 2014 balance sheet. (Note that letters appear more than once to accommodate the Scantron.) Please choose the most likely category.
A. Current assets B. Capital Stock
B. Long-term investments C. Additional Paid-In-Capital
C. Property and equipment D. Accumulative Comprehensive Income
D. Intangible assets E. Retained Earnings
E. Current liabilities A. Contra Equity
A. Long-term debt B. Note or not reported on Balance Sheet
_____ 1. Unrealized losses/gains on available-for-sale securities
_____ 2. Premium or Discount on Bonds Payable (Due 2025)
_____ 3. Unearned Rent Revenue/Treasury Stock
_____ 4. Trading securities
_____ 5. Allowance for doubtful accounts/Allowance for Bad Debts
_____ 6. Cash surrender value of life insurance/ Bond sinking fund
_____ 7. Discount on preferred stock
_____ 8. Copyrights/Trademarks
_____ 9. Budgeted capital expenditures
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