Question
I. The balance sheet contains the major sections (a-j) listed below. A listing of balance sheet accounts (1-9) follows. Using the letters (a-j), indicate in
I. The balance sheet contains the major sections (a-j) listed below. A listing of balance sheet accounts (1-9) follows.
Using the letters (a-j), indicate in which section of the balance sheet each of the accounts (1-9) would be classified. Put parentheses around the letter used if it represents a contra account. If the account doesnotappear on the balance sheet, place an "X" in the space provided.
a. Current assets f. Current liabilities
b. Long-term investments g. Long-term liabilities
c. Property, plant, and equipment h. Contributed capital
d. Intangible assets i. Retained earnings
e. Other assets j. Accumulated other comprehensive income
____ 1. Short-term investment in trading securities
____ 2. Land for speculation
____ 3. Fund to retire long-term bonds
____ 4. Additional paid-in capital on common stock
____ 5. Deferred (unearned) rent revenue - short-term
____ 6. Trademark
____ 7. Unearned ticket sales
____ 8. Prepaid rent (for the next 9 months)
____ 9. Investment in held-to-maturity securities.
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