a. Current assets b. Investments and funds f. Current liabilities g. Long-term l

Question

a. Current assets b. Investments and funds f. Current liabilities g. Long-term liabilities h. Paid-in-capital Property, plant, and equipment d. Intangible assets.Retained earnings e. Other assets Required: For each of the following 2016 balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) 10. Accrued interest payable Franchise Accumulated depreciation Machinery Land, in use 12 13. Prepaid insurance, for 2017 Deferred revenue Bonds payable, due in 10 years Current maturities of long-term debt Note payable, due in three months Long-term receivables Restricted cash, will be used to retire bonds in 10 years18 Preferred stock Land, held for speculation Cash equivalents Wages payable 16. 17 Prev 4 of 4 Next 9 MacBook Air F5 F6 3

Explanation / Answer

1 f Accrued interest payable 2 d Franchise 3 -c Accumulated Depreciation 4 a Prepaid Insurance, for 2017 5 g Bonds Payable due in 10 years 6 f Current maturities of long term debt 7 f Note payable , due in three months 8 b Long term receivables 9 b Restricted cash, will be used to retire bonds in 10 years 10 a Supplies 11 c Machinery 12 c Land, in use 13 f Deffered revenue 14 d Copyrights 15 h Preferred stock 16 b Land, held for speculation 17 a Cash equivalents 18 f Wages payable

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