Question
The following are the major balance sheet classifications Current Assets (CA) Current Liabilities (CL) Intangible Assets (IA) Long-term Investments (LTI) Property, Plant, and Equipment (PPE)
The following are the major balance sheet classifications
Current Assets (CA)
Current Liabilities (CL)
Intangible Assets (IA)
Long-term Investments (LTI)
Property, Plant, and Equipment (PPE)
Long-term Liabilities (LTL)
Stockholder's Equity (SE)
Classify each of the following accounts taken from Raman Company's balance sheet. -
Accounts Payable
Accounts Receivable
Cash
Common stock
Patents
Salaries and Wages Payable
Inventory
Stock Investments (to be sold in 7 months)
Accumulated DepreciationEquipment
Buildings
Land (in use)
Notes payable (due in 2 years)
Supplies
Equipment
Prepaid Expenses
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