The following are common categories on a classified balance sheet.
A. Current assets
B. Long-term investments
C. Plant assets
D. Intangible assets
E. Current liabilities
F. Long-term liabilities
For each of the following items, select the letter that identifies the balance sheet category where the item typically would appear.
______1. Trademarks
______ 2. Accounts receivable
______ 3. Land not currently used in operations
______ 4. Notes payable (due in three years)
______ 5. Cash
______ 6. Wages payable
______ 7. Store equipment
______ 8. Accounts payable