The following is a list of accounts Mortgage payable, due in 15 years Shortterm investments Cash Prepaid rent Patents Common stock Accounts payable Buildings Notes payable due in 6 months Required Identify each account as a Current asset, Long term investment, Fixed asset, Intangible asset, Other a...

Mortgage payable Longterm liability Shortterm investme ...

The following is a list of accounts: Mortgage payable, due in 15 years Shortterm investments

Question:

The following is a list of accounts:
• Mortgage payable, due in 15 years
• Shortterm investments
• Cash
• Prepaid rent
• Patents
• Buildings
• Notes payable due in 6 months
Required
Identify each account as a Current asset, Long term investment, Fixed asset, Intangible asset, Other asset, Current liability, Longterm liability, Contributed capital, or Retained earnings.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... 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...