The following are the major balance sheet classifications: Current assets (CA).......... Current liabilities (CL) Long-term investments (LTI).......

Question:

The following are the major classifications:

Current assets (CA).......... Current liabilities (CL)
Long-term investments (LTI)....... Long-term liabilities (LTL)
Property, plant, and equipment (PPE)... Owner’s equity (OE)

(IA)
Match each of the following accounts to its proper classification.
_____ _____ Income tax payable
_____ _____ Investment in long-term bonds
_____ Accumulated depreciation _____ Land
_____ Building _____ Merchandise inventory
_____ Cash _____ Patent
_____ Copyrights _____ Supplies

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