Classifying Balance Sheet Accounts
Not what you're looking for?
The Following accounts appear on the worksheet of Odds and Ends Craft Store. Indicate the section of the classified balance sheet in which each account will be reported.
Sections of Classified Balance Sheet
a. Current Assets
b. Plant and Equipment
c. Current Liabilities
d. Long-Term Liabilities
e. Owner's Equity
Accounts
1. Rent Payable
2. Cash
3. Raja Julia, Capital
4. Merchandise Inventory
5. Accounts Payable
6. Store Supplies
7. SalesTax Payable
8. Prepaid Insurance
9. Delivery Van
10. Acconts Receivable
Purchase this Solution
Solution Summary
For the 10 accounts listed, the solution matches them to the section of the balance sheet in which they would appear. Each response is followed by an explanation or clarification, if needed.
Solution Preview
Accounts
1. Rent Payable - current liabilities assuming it is due within one year
2. Cash - current assets
3. Raja Julia, Capital - ...
Purchase this Solution
Free BrainMass Quizzes
Motivation
This tests some key elements of major motivation theories.
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Lean your Process
This quiz will help you understand the basic concepts of Lean.