Match the account titles with the proper financial statement classification: A C

Question

Match the account titles with the proper financial statement classification: A Current Assets E B Long-Term Investments F C Property, Plant, and Equipment G Long-Term Liabilities Equity Revenue Expenses D Current Liabilities H Inventory Accounts Payable Notes Payable in Ten Years Accrued Payroll Interest Income Accounts Receivable Fund Balancing (Working Capital) Restricted Donations Land (Used in operations) Cash Office Supplies Expense Payroll Taxes Payable Match the account titles with the proper financial statement classification: A Current Assets E B Long-Term Investments F C Property, Plant, and Equipment G Long-Term Liabilities Equity Revenue Expenses D Current Liabilities H Inventory Accounts Payable Notes Payable in Ten Years Accrued Payroll Interest Income Accounts Receivable Fund Balancing (Working Capital) Restricted Donations Land (Used in operations) Cash Office Supplies Expense Payroll Taxes Payable Match the account titles with the proper financial statement classification: A Current Assets E B Long-Term Investments F C Property, Plant, and Equipment G Long-Term Liabilities Equity Revenue Expenses D Current Liabilities H Inventory Accounts Payable Notes Payable in Ten Years Accrued Payroll Interest Income Accounts Receivable Fund Balancing (Working Capital) Restricted Donations Land (Used in operations) Cash Office Supplies Expense Payroll Taxes Payable

Explanation / Answer

Inventory,... Accounts receivable,... Cash

S. No. Account title Classification in financial statements 1 current assets

Inventory,... Accounts receivable,... Cash

2 current liabilities accounts payable,... accrued payroll,.... payroll taxes payable 3 long-term investments restricted donations 4 revenue interest income 5 expenses office supplies expense 6 equity fund Balancing 7 long term liabilities notes payable in ten years 8 property, plant & equipment land used in operations

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