Using the letters provided, classify items (1–13) according to the most commonly
ID: 461996 • Letter: U
Question
Using the letters provided, classify items (1–13) according to the most commonly preferred balance sheet presentation.
Assets
Liabilities and Stockholders' Equity
a. Current Assets
f. Current Liability
b. Tangible Assets
g. Long-Term Liability
c. Investments
h. Capital Stock
d. Intangibles
i. Retained Earnings
e. Other
j. Items Not Included on Balance Sheet
1.
Land
2.
Marketable Securities
3.
Goodwill
4.
Inventories
5.
Premium on Preferred Stock
6.
Appropriation for Expansion
7.
Depreciation Expense
8.
Investment in K Company Bonds (long-term investment)
9.
Accounts Payable
10.
Bonds Payable
11.
Equipment
12.
Copyright
13.
Unamortized Premium on Bonds Payable
Assets
Liabilities and Stockholders' Equity
a. Current Assets
f. Current Liability
b. Tangible Assets
g. Long-Term Liability
c. Investments
h. Capital Stock
d. Intangibles
i. Retained Earnings
e. Other
j. Items Not Included on Balance Sheet
Explanation / Answer
1.
b
2.
a
3.
d
4.
a
5.
h
6.
i
7.
j
8.
c
9.
f
10.
g
11.
b
12.
d
13.
g
1.
b
2.
a
3.
d
4.
a
5.
h
6.
i
7.
j
8.
c
9.
f
10.
g
11.
b
12.
d
13.
g
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