Instructions: Use the PPE Classifications Successful Efforts document posted in the PP\&E folder on eCampus to complete this assignment. Essentially, every item/situation on the left needs a "home" at year-end, and it can either be on the income statement or the balance sheet. The answer choices include a variety of balance sheet asset accounts and a couple of income statement expenses depending on how the item/situation is to be treated. There may be the rare case where how an item is classified during the year doesn't change at year-end. (Not meant to be a trick - it's just how that particular item is accounted for.) And, some answer choices will need to be used more than once. Exploratory well costs - WIP for a well that has been completed and determined to be successful Exploratory well costs - WIP for a well that has been completed and determined to be unsuccessful Exploratory well costs - WIP for a well that has not been completed Exploratory G\&G - WIP for a completed AFE Exploratory G\&:G - WIP for an open AFE at the end of a reporting period Development costs - WIP for a development well that has been completed and is unsuccessful Development costs - WIP for a development well that has been completed and is successful Development costs - WIP for a development well that has not been completed at the end of a reporting period Instructions: Use the PPE Classifications Successful Efforts document posted in the PP\&E folder on eCampus to complete this assignment. Essentially, every item/situation on the left needs a "home" at year-end, and it can either be on the income statement or the balance sheet. The answer choices include a variety of balance sheet asset accounts and a couple of income statement expenses depending on how the item/situation is to be treated. There may be the rare case where how an item is classified during the year doesn't change at year-end. (Not meant to be a trick - it's just how that particular item is accounted for.) And, some answer choices will need to be used more than once. Exploratory well costs - WIP for a well that has been completed and determined to be successful Exploratory well costs - WIP for a well that has been completed and determined to be unsuccessful Exploratory well costs - WIP for a well that has not been completed Exploratory G\&G - WIP for a completed AFE Exploratory G\&:G - WIP for an open AFE at the end of a reporting period Development costs - WIP for a development well that has been completed and is unsuccessful Development costs - WIP for a development well that has been completed and is successful Development costs - WIP for a development well that has not been completed at the end of a reporting period