E5-2 (Classification of Statement of Financial Position Accounts) Presented below are the captions of Nikos Companys statement of financial position. (a) Non-current assets. (c) Equity. (1) Investments. (d) Non-current liabilities. (2) Property, plant, and equipment. (e) Current liabilities. (3) Intangible assets. (4) Other assets. (b) Current assets. Instructions Indicate by letter where each of the following items would be classified. 1. Share capitalpreference. 6. Trading securities. 2. Goodwill. 7. Current portion of long-term debt. 3. Salaries and wages payable. 8. Patents. 4. Accounts payable. 9. Allowance for doubtful accounts. 5. Buildings. 10. Accounts receivable. 2 3 2 3 EXERCISES www.downloadslide.com Exercises 219 11. Accumulated other comprehensive income. 16. Bond sinking fund. 12. Notes payable (due next year). 17. Inventory. 13. Supplies. 18. Prepaid insurance. 14. Share capitalordinary. 19. Bonds payable. 15. Land. 20. Income taxes payable