equity shodou 544000 $12.00 54.000 26 Prepaid insurance is reported on the fixed asset Current liability long-term d 27. u The financial statement that yo business for a specific period of time ucham prior period statement statement of owner's city income statement balance sheet y and expenses of is called ) C 28. The accounting equation may be expressed as Assets Equities -Liabilities b. Assets - Liabilities - Owner's Equity c Assets Revenues Liabilities d Assets Liabilities + Owner's Equity 29. Debts listed as current liabilities are those that will be paid in less than one year b. are due to be paid in 5 to 10 years c. are due to be paid in more than one year are owed to the owner and will never be paid d. 30. On the balance sheet, owner's equity is a. added to assets and the two are equal to liabilities added to liabilities and the two are equal to assets c. subtracted from liabilities and the net amount is equal to assets d. equal to the total of assets and liabilities The classified balance sheet will show which asset subsections? a. current assets and other equity b. current assets and property, plant, and equipment c. current liabilities and short-term assets d. other revenues and property, plant and equipment The classified balance sheet will show which liability subsections? a. current liabilities and long-term liabilities b. current liabilities and other liabilities c. other liabilities and long-term liabilities present liabilities and tomorronsibilities 0 Send a chat