Question
For each account listed, identify the category that it would appear on a classified balance sheet. Use the following categories: Current Assets; Long-term Investments; Property,
For each account listed, identify the category that 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.
a.Land (used in operations)
b.Accumulated Depreciation-Equipment
c.Reed, Capital
d.Service Revenue e.Investment in Starbucks Corporation (to be held long-term)
f.Accounts Receivable
g.Equipment
h.Buildings
i.Notes Payable (due in 10 years)
j.Unearned Revenue
k.Cash
l.Accounts Payable
m.Prepaid Rent
n.Reed, Withdrawals
o.Land (held for investment purposes)
p.Depreciation Expense
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