Essay
Account classification.ASSETS LIABILITIES AND CAPITAL 
Using the letters above, classify the following accounts according to the preferred and ordinary balance sheet presentation.1. Bond sinking fund2. Common stock dividend distributable3. Appropriation for plant expansion4. Bank overdraft5. Bonds payable (due 2017)6. Premium on common stock7. Securities owned by another company which are collateral for that company's note8. Equity investments (trading)9. Inventory10. Discount on bonds payable11. Patents12. Unearned rent revenue
Correct Answer:
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1. b
2. i
3. k
4....View Answer
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Correct Answer:
Verified
2. i
3. k
4....
View Answer
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