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Balance sheet accounts

Please help with the following problem:

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.

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