QUESTION 16 BALANCE SHEET CLASSIFICATIONS Instructions: Match the account titles
ID: 2460260 • Letter: Q
Question
QUESTION 16
BALANCE SHEET CLASSIFICATIONS
Instructions: Match the account titles given below with the appropriate Balance Sheet classification. An individual classification may be used more than once, or not at all.
An account may also not appear in the balance sheet.
Classifications
A. Current Assets E. Current Liabilities
B. Long-term Investments F. Long-term Liabilities
C. Property, Plant and Equipment G. Owner's Equity
D. Intangible Assets H. Not separately presented on the
Balance Sheet
Account Titles
_____ 1. A. Browning, Capital ____ 10. Prepaid Insurance
_____ 2. Unearned Rent Revenue ____ 11. Short-term Investments
_____ 3. Supplies ____ 12. Taxes Payable
_____ 4. Accounts Payable ____ 13. Copyrights
_____ 5. Trademarks ____ 14. Accounts Receivable
_____ 6. Salaries Payable ____ 15. Mortgage Payable
_____ 7. Equipment ____ 16. A. Browning, Drawing
_____ 8. Service Revenue ____ 17. Accumulated Depreciation Equipment
_____ 9. Rent Expense
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2.
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17.
Explanation / Answer
Sl. No. Classification 1 G. Owner's Equity 2 E. Current Liabilities 3 A. Current Assets 4 E. Current Liabilities 5 D. Intangible Assets 6 E. Current Liabilities 7 C. Property, Plant and Equipment 8 H. Not separately presented on the Balance Sheet 9 H. Not separately presented on the Balance Sheet 10 A. Current Assets 11 A. Current Assets 12 E. Current Liabilities 13 D. Intangible Assets 14 A. Current Assets 15 F. Long-term Liabilities 16 G. Owner's Equity 17 C. Property, Plant and Equipment
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