B land held for investment 13 f accrued liabilities 5

This preview shows page 4 - 7 out of 7 pages.

4.b _Land, held for investment13.f _Accrued liabilities5.g _Note payable, due in 5 years14.a Prepaid rent6.f Unearned rent revenue15.h _Common stock7.f Note payable, due in 6 months16.c Building, in use
Exercise 3–3E 3–3Balance sheet classification LO3–2,LO3–3The following are the typical classifications used in a balance sheet: a)Current assetsb)Investments and fundsc)Property, plant, and equipmentd)Intangible assetse)Other assetsf)Current liabilitiesg)Long-term liabilitiesh)Paid-in-capitali)Retained earningsRequired: For each of the following 2016 balance sheet items, use the letters above to indicate the appropriate classification category. If the item is a contra account, place a minus sign before the chosen letter.1._____ Accrued interest payable2._____ Franchise3._____ Accumulated depreciation4._____ Prepaid insurance, for 20175._____ Bonds payable, due in 10 years6._____ Current maturities of long-term debt7._____ Note payable, due in three months8._____ Long-term receivables
9._____ Restricted cash, will be used to retire bonds in 10 years10. _____ Supplies11. _____ Machinery12. _____ Land, in use13. _____ Deferred revenue14. _____ Copyrights15. _____ Preferred stock16. _____ Land, held for speculation17. _____ Cash equivalents18. _____ Wages payable
1.f Accrued interest payable10.a Supplies2.d Franchise11.c Machinery3.-c Accumulated depreciation12.c Land, in use4.a _Prepaid insurance, for 201413.f _Unearned revenue5.g Bonds payable, due in 10 years14.d _Copyrights6.f Current maturities of long-term debt15.h _Preferred stock7.f Note payable, due in 3 months16.b _Land, held for speculation8.b Long-term receivables17.a Cash equivalents9.b Bond sinking fund, will be used to18.f _Wages payableretire bonds in 10 years

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture