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

Exercise 67

The following are common categories on a classified balance sheet.
A. Current assets
B. Long-term investments
C. Plant assets
D. Intangible assets
E. Current liabilities
F. Long-term liabilities
For each of the following items, select the letter that identifies the balance sheet category where the item typically would appear.
_______ 1. Land not currently used in operations
_______ 2. Notes payable (due in five years)
_______ 3. Accounts receivable
_______ 4. Trademarks
_______ 5. Accounts payable
_______ 6. Store equipment
_______ 7. Wages payable
_______ 8. Cash