Pratt Company is trying to determine whether the following items should be classified as current or long term. For each item, determine how much should be classified as current and how much is non-current. If the item is an asset, under which section of the asset portion of the balance sheet should it be listed?

a. The amount of $80,000 in cash has been set aside in a savings account to pay for bonds that mature in five years.

b. Property (land) was acquired this past year for $100,000; the company plans to sell it in the next few months because the value has increased, and they no longer will use it as originally planned for expansion.

c. Pratt has a note payable of $150,000 with equal, annual payments scheduled each year for ten years.

d. Related to the ten-year notes is interest payable of $8,000, which will be paid with the next payment.

e. Investments in securities of other companies total $120,000. Pratt intends to sell half of them in ten months.

. Multi Line Text.