Prepare the current assets section of a statement of financial position. (LO 6) Classify accounts on statement of financial position. (LO 6) Prepare reversing entries. (LO 7) BE4-10 The statement of financial position debit column of the worksheet for Alvin Com- pany, Ltd. includes the following accounts: Accounts Receivable 12,500; Prepaid Insur- ance 3,600; Cash 6,700; Supplies 5,200; and Short-Term Investments 4,900. Prepare the current assets section of the statement of financial position, listing the accounts in proper sequence. BE4-11 The following are the major statement of financial position classifications: Intangible assets (IA) Property, plant, and equipment (PPE) Long-term investments (LTI) Current assets (CA) Equity (E) Non-current liabilities (NCL) Current liabilities (CL) Match each of the following accounts to its proper statement of financial position classi- fication. Accounts payable Accounts receivable Accumulated depreciation-buildings Buildings Cash Copyrights Income taxes payable Debt investment (long-term) Land Inventory Patents Supplies *BE4-12 At October 31, Prasad Company Ltd. made an accrued expense adjusting entry of 1,680 for salaries. Prepare the reversing entry on November 1, and indicate the balances in Salaries and Wages Payable and Salaries and Wages Expense after posting the reversing entry