Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 2

In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank.
A. Current assets
B. Long-term investments
C. Plant assets
D. Intangible assets
E. Current liabilities
F. Long-term liabilities
G. Equity
_____ 1. Commissions earned
_____ 2. Interest receivable
_____ 3. Long-term investment in stock
_____ 4. Prepaid insurance
_____ 5. Machinery
_____ 6. Notes payable (due in 15 years)
_____ 7. Copyrights
_____ 8. Current portion of long-term note payable
_____ 9. Accumulated depreciation-Trucks
_____ 10. Office equipment
_____ 11. Rent receivable
_____ 12. Salaries payable
_____ 13. Income taxes payable
_____ 14. Owner, Capital
_____ 15. Office supplies
_____ 16. Interest payable
_____ 17. Rent revenue
_____ 18. Notes receivable (due in 120 days)
_____ 19. Land (used in operations)
_____ 20. Depreciation expense-Trucks