Matching
Match each account to the classification scheme for a balance sheet
Premises:
Additional paid-in capital
Cost of Goods Sold
Customer Advances
Land
Temporary Investments
Mortgage Payable (due in ten years)
Common Stock
Goodwill
Notes Payable (due in ten months)
Special Fund for Purchase of a Building
Responses:
Current assets
Investments
Property, plant, and equipment
Intangible assets
Current liabilities
Long-term liabilities
Contributed capital
Retained earnings
Not on balance sheet
Correct Answer:
Premises:
Responses:
Additional paid-in capital
Cost of Goods Sold
Customer Advances
Land
Temporary Investments
Mortgage Payable (due in ten years)
Common Stock
Goodwill
Notes Payable (due in ten months)
Special Fund for Purchase of a Building
Premises:
Additional paid-in capital
Cost of Goods Sold
Customer Advances
Land
Temporary Investments
Mortgage Payable (due in ten years)
Common Stock
Goodwill
Notes Payable (due in ten months)
Special Fund for Purchase of a Building
Responses:
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