HW_2 Balance Sheet with solution

HW_2 Balance Sheet with solution - Homework #2: Balance...

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1 Homework #2 : Balance Sheet (Ch 5 and Ch 24), due on February 3. Problem 1: The various classifications listed below have been used in the past by Maris Company on its balance sheet. a. Current Assets f. Current Liabilities b. Investments g. Long-Term Liabilities c. Plant and Equipment h. Common Stock and Paid-in Capital in Excess of Par d. Intangible Assets i. Retained Earnings e. Other Assets Required: Indicate by letter how each of the following items should be classified. If an item need not be reported on the balance sheet, use the letter "X." A letter may be used more than once or not at all. If an item can be classified in more than one category, choose the most relevant category. ____ 1. Employees' payroll deductions. ____ 2. Cash in sinking fund. ____ 3. Rent revenue collected in advance. ____ 4. Equipment retired from use and held for sale. ____ 5. Patents. ____ 6. Payroll cash fund. ____ 7. Goods held on consignment. ____ 8. Accrued revenue on temporary investments. ____ 9. Advances to salespersons.
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This note was uploaded on 02/22/2012 for the course ACCT 401 taught by Professor Winchel during the Spring '10 term at South Carolina.

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HW_2 Balance Sheet with solution - Homework #2: Balance...

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