Question
Indicate the section where each of the following items would be reported on the Jones corporation balance sheet. Use the following abbreviations to report the
Indicate the section where each of the following items would be reported on the Jones corporation balance sheet.
Use the following abbreviations to report the relevant balance sheet section:
CA = Current Asset
I = Investments
PA = Plant Assets
IA = Intangible Assets
CL = Current Liabilities
LTL = Long-Term Liabilities
PIC = Paid-In Capital
RE = Retained Earnings
A. 10 month notes payable (due after current year)
B. Long-Term Investment in IBM Bonds
C. Premium on Bond Investment
D. Bond sinking fund
E. Preferred Stock
F. Paid In Capital Common Stock
G. Retained Earnings Appropriation for a Bond Sinking Fund
H. Investment (25%) in Adkins Co. bonds
I. Unamortized Discount on Bond Investment (on bonds due in year 2015)
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