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Briet Exercise 3-35 Classifying Balance Sheet Items A classified balance sheet contains the following categories: Other assets Current assets Long-term investments Property, plant, and equipment
Briet Exercise 3-35 Classifying Balance Sheet Items A classified balance sheet contains the following categories: Other assets Current assets Long-term investments Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Stockholders' equity Required: For each of the following accounts, select the correct balance sheet category where the item would typically appear. a. Notes Payable (due in 5 years) Long-term liabilities b. Accounts Receivable Current assets c. Patent Other assets d. Prepaid Rent Other assets e. Accumulated Depreciation Current liabilities f. Common Stock Current liabilities 9. Accounts Payable Current liabilities Current assets h. Cash i. Unearned Service Revenue j. Equipment Current liabilities Intangible assets Check My Work Previous Nex
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