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The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments and funds c. Property, plant, and
The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments and funds c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Contributed capital i. Retained earnings Using the letters above and the format below, indicate the balance sheet category from the dropdown listing in which an entity typically would place each of the following items. Contra accounts should be indicated by the corresponding dropdown choice shown with parentheses. (If an item relates to more than one balance sheet category, select the dropdown option that represents all applicable categories.) 2. Long-term receivables Accumulated amortization Current maturities of long-term debt Notes payable (short-term) Accrued payroll taxes Leasehold improvements Retained earnings appropriated for plant expansion Machinery Donated capital Short-term investments Deferred tax liability (long-term) Allowance for uncollectible accounts Premium on bonds payable Supplies inventory Additional paid-in capital lolololos 13. 14. 15
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