The following accounts were taken from the financial statements of Orville Company. ______ Interest revenue ______ Common

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The following accounts were taken from the financial statements of Orville Company.
______ Interest revenue ______ Common stock
______ Utilities payable ______ Accumulated depreciation—equipment
______ Accounts payable ______ Equipment
______ Supplies ______ Salaries and wages expense
______ Bonds payable ______ Investment in real estate
______ Trademarks ______ Unearned rent revenue
Match each of the accounts to its proper balance sheet classification, as shown below. If the item would not appear on a balance sheet, use “NA.”
Current assets (CA) ......... Current liabilities (CL)
Long-term investments (LTI) ...... Long-term liabilities (LTL)
Property, plant, and equipment (PPE) .. Stockholders’ equity (SE)
Intangible assets (IA)

Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented...
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Financial and managerial accounting

ISBN: 978-1118016114

1st edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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