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In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classifi- cation. If the item should not
In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classifi- cation. If the item should not appear on the balance sheet, enter an h in the blank. a. Current assets b. Non-current investments c. Property, plant, and equipment d. Intangible assets 1. Depreciation expense, trucks 2. Lee Hale, capital 3. Interest receivable 4. Lee Hale, withdrawals 5. Automobiles 6. Notes payable (due in three years) 7. Accounts payable 8. Prepaid insurance 9. Land not currently used in business operations 10. Unearned services revenue 11. Accumulated depreciation, trucks e. Current liabilities f. Non-current liabilities g. Equity h. Does not appear on balance sheet 12. Cash 13. Building 14. Brand name 15. Office equipment 16. Land (used in operations) 17. Repairs expense 18. Prepaid property taxes 19. Notes payable (due in two months) 20. Notes receivable (due in two years)
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