Matching
Indicate the typical classification of each item listed below by placing the correct balance sheet category
Premises:
Prepaid insurance
Common stock
Buildings used in business operations
Wages payable
Accounts payable
Retained earnings
Current portion of long-term debt
Land held for future plant expansion
Cash
Long-term note payable
Accounts receivable
Patents
Responses:
Plant assets
Equity
Investments
Long-term liabilities
Current assets
Current liabilities
Intangible assets
Correct Answer:
Premises:
Responses:
Prepaid insurance
Common stock
Buildings used in business operations
Wages payable
Accounts payable
Retained earnings
Current portion of long-term debt
Land held for future plant expansion
Cash
Long-term note payable
Accounts receivable
Patents
Premises:
Prepaid insurance
Common stock
Buildings used in business operations
Wages payable
Accounts payable
Retained earnings
Current portion of long-term debt
Land held for future plant expansion
Cash
Long-term note payable
Accounts receivable
Patents
Responses:
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