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Classifying Balance Sheet Items A classified balance sheet contains the following categories: Current assets Long-term investments Other assets Current liabilities Property, plant, and equipment

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Classifying Balance Sheet Items A classified balance sheet contains the following categories: Current assets Long-term investments Other assets Current liabilities Property, plant, and equipment Long-term liabilities Stockholders' equity Intangible assets 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) b. Accounts Receivable c. Patent d. Prepaid Rent e. Accumulated Depreciation f. Common Stock g. Accounts Payable h. Cash i. Unearned Service Revenue j. Equipment

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