Question
For Fielder Enterprises, indicate how each of the following usually should be classified. If an item should appear in a note to the financial statements,
For Fielder Enterprises, indicate how each of the following usually should be classified. If an item should appear in a note to the financial statements, select "Note to Financial Statement" to indicate this fact. If an item needs to be reported on the balance sheet, select "Balance Sheet" and if an item need not be reported at all, select "Not to be Reported." Transactions Reported in Classification 1. Prepaid insurance. Balance Sheet Other Assets 2. Stock owned in another company. Note to Financial Statement Long-term Investments 3. Unearned service revenue. Balance Sheet Current Liabilities 4. Advances to suppliers. Balance Sheet Current Assets 5. Unearned rent revenue. Balance Sheet Current Liabilities
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