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For each account listed, identify the category in which it would appear on a classified balance sheet. Use the following categories: Current Assets: Long-term Investments;
For each account listed, identify the category in which it would appear on a classified balance sheet. Use the following categories: Current Assets: Long-term Investments; Property, Plant, and Equipment; Intangible Assets; Current Liabilities; Long-term Liabilities; and Owner's Equity. If the item does not belong on the classified balance sheet, put an X. Account Category a. b Land (used in operations) Accumulated Depreciation-Equipment Reed, Capital d. Service Revenue e. Investment in Starbucks Corporation (to be held long-term) 1. Accounts Receivable g. Equipment h Buildings i. Notes Payable (due in 10 years) i Uneamed Revenue k. Cash Accounts Payable m. Prepaid Rent n. Reed, Withdrawals Land (held for investment purposes) p. Depreciation Expense o
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