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Classifying Accounts on a Balance Sheet The following are the accounts of Woods-Michelson Corporation: (1) Additional Paid-in Capital (8) Notes Payable (due in six months)
Classifying Accounts on a Balance Sheet The following are the accounts of Woods-Michelson Corporation: (1) Additional Paid-in Capital (8) Notes Payable (due in six months) (2) Buildings and Leased Assets (9) Prepaid Insurance (3) Current Lease Liabilities (10) Short-Term Investments (4) Dividends Payable (11) Trade Accounts Receivable (5) Equipment (12) Treasury Stock (6) Intangible Assets (13) Unearned Revenue (7) Long-Term Lease Liabilities In the space provided, classify each as it would be reported on a balance sheet. Use: CA for current asset CL for current liability SE for stockholders' equity NCA for noncurrent asset NCL for noncurrent liability
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