Question
The current balance sheet of J.J. Arvesen Company contains the following major sections: Current assets A Long-term investments B Property, plant, and equipment C Intangible
The current balance sheet of J.J. Arvesen Company contains the following major sections:
Current assets A
Long-term investments B
Property, plant, and equipment C
Intangible assets D
Other assets E
Current liabilities F
Long-term liabilities G
Contributed capital H
Retained earnings I
Accumulated other comprehensive income J
The following is a list of accounts. Using the letters A through J, indicate in which section of the balance sheet each account would most likely be classified. If an account does not belong under one of the sections listed, select "Not under any of the choices" from the classification drop down box. For all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no".
1. Patents (net)
2. Income taxes payable | ||
3. Notes receivable (due in 5 months) | ||
4. Unearned rent | ||
5. Discount on bonds payable (long-term bonds) | ||
6. Computer Equipment in the Data processing center | ||
7. Furniture | ||
8. Land held for future expansion | ||
9. Timberland (net) | ||
10. Treasury stock, at cost | ||
11. Advances to sales personnel | ||
12. Idle machinery | ||
13. Deferred taxes payable | ||
14. Raw materials | ||
15. Investment in held-to-maturity bonds | ||
16. Pollution control facilities | ||
17. Cash from security deposits of customers on returnable containers | ||
18. Donated capital for industrial park building site from Toma City | ||
19. Trademarks | ||
20. Finished goods | ||
21. Cash dividends payable | ||
22. Bond sinking fund | ||
23. Temporary investments | ||
24. Retained earnings | ||
25. Advances to affiliated company (long-term) | ||
26. Cash surrender value of life insurance | ||
27. Equipment under capital lease | ||
28. Additional paid-in capital on preferred stock | ||
29. Interest receivable (due in 5 months) | ||
30. Office supplies | ||
31. Accrued pension cost | ||
32. Capital lease obligation | ||
33. Investment in 8-year certificates of deposit | ||
34. Unearned ticket sales | ||
35. Estimated warranty (6-months) obligations | ||
36. Unrealized decrease in value of available-for-sale securities | ||
37. Cash |
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