Help

The following are the typical classifications used in a balance sheet 1 a b Current assets Investments Property plant and equipment d intangible assets Other assets Current liabilities 9 Long-term liabilities h Paid in capital Retained earrings e Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) Equipment 10 1C 20 Accounts payable 11d 12.10 3 Allowance for uncollectible accounts Inventory Patent Land (used in operations) Accued labes (due in 6 months) Prepaid rent for the next months 4 Land held for investment) 13 5 a 14 15th Common stock 6 16 71 Notes payable (due in 5 years) Deferred revenue (for the next 12 months) Notes payable (due in 6 months) Accumulated amount of net income less dividends Investment in XYZ Corp (long-term) 17 Building used in operations) Cash Income taxes payable 8 18 9