The following lettered items represent a classification scheme for a balance she

Question

The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent accounts found on balance sheets. In the blank next to each account, write the letter indicating to which category it belongs. A.Current assetsE.Current liabilities B.Long-term investmentsF.Long-term liabilities C.Property, plant, and equipmentG.Stockholders' equity D.Intangible assetsH.Not on the balance sheet _____1.Accumulated Depreciation_____6.Inventory _____2.Patents_____7.Retained Earnings _____3.Prepaid Rent_____8.Interest Expense ____4.Mortgage Payable _____9.Salaries and Wages Payable ____ 5. Dividends____10. Land Held for Investment

Explanation / Answer

Classification :

Assets Accumlated depreciation C Patent D Prepaid rent A Mortgage payable F Dividend H Inventory A Retained earnings G Interest expense H Salary and wages payable E Land held for investment B

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