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Common categories of a classified balance sheet include Current Assets, Long - Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long - Term Liabilities, and
Common categories of a classified balance sheet include Current Assets, LongTerm Investments, Plant Assets, Intangible Assets, Current Liabilities, LongTerm Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item typically would best appear. If an item does not appear on the balance sheet, indicate that instead.
tableAccount Title,Classification,Account Title Automobiles,Plant assets, Merchandise inventory Notes payable due in yearsLongterm liabilities, Franchises Utilities expense,, Rental revenue Services revenue,, Unearned revenue Notes receivable due in years Accounts receivable Interest payable due in week Accounts payable Longterm investment in stock,Longterm investments, Shortterm investments Wages payable,, Taxes payable Due in weeks Office supplies,Current assets, Supplies Salaries payable,, Goodwill
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