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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 Equity. For each of
Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-Term 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, Account Title Classification Account Title 1. Long term Investment in stock 2. Depreciation expense-Building 3. Prepaid rent (2 months of rent) 4. Interest receivable 5. Taxes payable (due in 5 weeks) 6. Automobiles 7. Notes payable (due in 3 years) B Accounts payable 9. Cash 10. Common stock 11. Unearned services revenue 12. Accumulated depremin Trucks 13. Prepaid insurance expires in 5 months) 14. Buildings 15. Store supplies 10. Office equipment 17 Land used in operations) 18. Rep expense 19. Office Supplies 20 Current portion of long-term note payabile Current assette Current abilities Equity Intangible assets ammon categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, intangible Assets, arrent Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item ically would best appear. If an item does not appear on the balance sheet indicate that instead. Account Title Classification Account Title Classification 1. Long-term investment in stock 2. Depreciation expense-Building 3. Prepaid rent (2 months of rent) 4. Interest receivable 5. Taxes payable (due in 5 weeks) 6. Automobiles 7. Notes payable (due in 3 years) 8. Accounts payable 9. Cash 10. Common stock 11. Unearned services revenue 12. Accumulated depreciation-Trucks 13. Prepaid insurance (expires in 5 months) 14. Buildings 15. Store supplies 16. Office equipment 17. Land (used in operations) 18. Repairs expenso 19. Office supplies 20. Current portion of long-term note payable Intangible assets Long-term investments Long-term liabilities Not on balance sheet Plant assets
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