BUA 201 – Spring 2017
Assignment #7 (20 pts)
Instructor:
Dr. Henri Akono
Due date:
Monday 04/27/2016 (Thursday)
Student Name:
_Alec Hazlewood____________________________
Spring 2017 – Assignment #7 – BUA 201 [Principles of Financial Accounting].
Kimmel 7/8
Page
1
Exercise1_Score:
_____________________________
Exercise2_Score:
_____________________________
Total_ Assignment #7_Score:
_____________________________
Spring 2017 – Assignment #7 – BUA 201 [Principles of Financial Accounting].
Kimmel 7/8
Page
2
Chapter 2:
A Further Look at Financial Statements: The Classified Balance Sheet.
Exercise 1 (10 PTS): The following are the major balance sheet classifications. Current assets (CA) Current liabilities (CL) Long-term investments (LTI) Long-term liabilities (LTL) Property, plant, and equipment (PPE) Common stock (CS) Intangible assets (IA) Retained earnings (RE) Instructions Classify each of the following financial statement items taken from Inshore Corporation’s balance sheet.
_CL___ Accounts payable
___CA_ Inventory
_CA___ Accounts receivable
__LTI__ Stock investments (to be sold in 18
months)
__PPE__ Land
__PPE__ Buildings
__CL__ Mortgage payable
_CA___ Cash
_CA___ Supplies
_CA___ Interest receivable
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