Accounting Chapter 2 Homework - Exercise 2-1 Your answer is correct Classify each of the following financial statement items taken from Mordica

Accounting Chapter 2 Homework - Exercise 2-1 Your answer is...

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Exercise 2-1Your answer is correct.Classify each of the following financial statement items taken from Mordica Corporation’s balance sheet. Accounts payable Accounts receivable Accumulated depreciation—equipment Buildings Cash Interest payable Goodwill Income taxes payable Inventory Stock investments (to be sold in 7 months) Land (in use) Mortgage payable Supplies Equipment Prepaid rent Click if you would like to Show Work for this question: Open Show Work Problem 2-3A (Part Level Submission) You are provided with the following information for Ramirez Enterprises, effective as of its April 30, 2014, year-end. Accounts payable $ 871 Accounts receivable 924 Accumulated depreciation— equipment 670 Cash 1,384 Common stock 1,242 Cost of goods sold 1,097 Depreciation expense 298 Current liabilities Current assets Property, plant, and equipment Property, plant, and equipment Current assets Current liabilities Intangible assets Current liabilities Current assets Current assets Property, plant, and equipment Long-term liabilities Current assets Property, plant, and equipment Current assets
Dividends 362 Equipment 2,534 Income tax expense 202 Income taxes payable 172 Insurance expense 247 Interest expense 437 Inventory 1,081 Land 3,214 Mortgage payable 3,614 Notes payable 175 Prepaid insurance 97 Retained earnings (beginning) Salaries and wages expense Salaries and wages payable

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