Matching
The following lettered items represent a classification scheme for a balance sheet,and the numbered items represent accounts.match the classification scheme to which account it belongs.
Premises:
Depreciation Expense
Interest Expense
Accumulated Depreciation
Prepaid Interest
Owner's Capital
Revenues Received in Advance
Inventory
Notes Payable (in five years)
Wages Payable
Trademark
Land Held for Future Use
Responses:
Owner's equity
Not on balance sheet
Long-term liabilities
Current liabilities
Current assets
Investments
Plant and equipment
Intangible assets
Correct Answer:
Premises:
Responses:
Revenues Received in Advance
Current liabilities
Accumulated Depreciation
Plant and equipment
Inventory
Current assets
Owner's Capital
Owner's equity
Interest Expense
Not on balance sheet
Notes Payable (in five years)
Long-term liabilities
Trademark
Intangible assets
Land Held for Future Use
Investments
Premises:
Revenues Received in Advance
Accumulated Depreciation
Inventory
Owner's Capital
Interest Expense
Notes Payable (in five years)
Trademark
Land Held for Future Use
Responses:
Current liabilities
Plant and equipment
Current assets
Owner's equity
Not on balance sheet
Long-term liabilities
Intangible assets
Investments
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