Friday, 15 July 2016

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.)

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.)
save image