Question
Beside each numbered balance sheet item, select the letter of its balance sheet classification. If the item shoud not appear on the balance sheet, choose
Beside each numbered balance sheet item, select the letter of its balance sheet classification. If the item shoud not appear on the balance sheet, choose the letter Z from the selection choices.
A. Current Assets
B. Long-term investments
C. Planet Assets
D. Intangible Assets
E. Current Liabilities
F. Long-term liabilites
G. Equity
1. Long-term investment in stock
2. Depreciation expense-Building
3. Prepaid rent
4. Interest receivable
5. taxes payable
6. automobiles
7. notes payable (due in 3 years)
8. Accounts payable
9. Prepaid insurance
10. Owner, Capital
11. Unearned services revenue
12. Accumulated depreciation-Trucks
13. Cash
14. Buildings
15. Store supplies
16. Office equipment
17. Land (used in operations)
18. Repairs expense
19. Office supplies
20. Current portion of long-term note payable
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