Thursday, 7 May 2015

The following are the typical classifications used in a balance sheet:

The following are the typical classifications used in a balance sheet:



 

 

 

 
  a.  Current assets   f.  Current liabilities
  b.  Investments and funds   g.  Long-term liabilities
  c.  Property, plant, and equipment.   h.  Paid-in-capital
  d.  Intangible assets   i.  Retained earnings
  e.  Other assets    




Required:
For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.)

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