A) current assets
b) investments
c) property, plant, and equipment
d) Intangible assets
e) other assets
f) current liabilities
g) non-current liabilities
h) capital stock
i) additional paid in capital
j) retained earnings
And these are the items to be classified:
1. preferred stock
2. goodwill
3. wages payable
4. trade accounts payable
5. buildings
6. trading securities
7. current portion of long-term debt
8. premium on bonds payable
9. allowance for doubtful accounts.
10. accounts receivable
11. cash surrender value of life insurance
12. notes payable (due next year)
13. office supplies
14. common stock
15. land
16. bond sinking fund
17. merchandise inventory
18. prepaid insurance
19. bonds payable
20. taxes payable
Solution Preview
1. Preferred stock = capital stock
2. Goodwill = intangible assets
3. Wages payable = current liab
4. Trade a/p = current liab
5. Buildings = Property, plant, and equipment
6. Trading ...
Solution Summary
This solution helps with a problem regarding balance sheet accounts.
... Then we will consider correcting entries and classified balance sheets. ... Salaries Expense Action Plan Extend asset balances to the balance sheet debit column ...
... Statement, Statement of Owner's Equity and Classified Balance Sheet. ... All of the company's accounting work is completed ... and its ledgers show April 30 balances. ...
... all temporary accounts have zero balances after posting ...accounts revenues, expenses, and The balance in Income ...account form are totaled, balanced, and double ...
... BUDGETS FINANCIAL CASH FLOW SHEET STATEMENT FACTS. ... Long Term Investments Balance sheets vary from industry to ... Current Liabilities Accounts Payable Short/Current ...
... If the equation is not balancing, then it indicates the ... in entering the transaction into the accounting equation ... This is been shown in the Balance sheet of both ...
... & Owner's Equity This is the balancing figure Example of ...Accounts Notes AccWages Interest Paid-In Retained Payable ... An example of a balance sheet format: Intel ...
