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The Following Accounts Appear in an Adjusted Trial Balance of Brock

Question 80

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The following accounts appear in an adjusted trial balance of Brock Pool Service Company. Select whether each account would be reported in the (a) current assets, (b) property, plant, and equipment, (c) current liabilities, (d) long-term liabilities, or (e) owner's equity section of the December 31, 2010, balance sheet of Brock Pool Service Company.

Premises:
Equipment
Cash
Unearned Revenues
Notes Payable (due in 2012)
Mortgage Payable
Accounts Receivable
Accumulated Depreciation
Taylor Brock, Capital
Responses:
Property, plant and equipment
Owner’s equity
Long-term liabilities
Current assets
Current liabilities

Correct Answer:

Equipment
Cash
Unearned Revenues
Notes Payable (due in 2012)
Mortgage Payable
Accounts Receivable
Accumulated Depreciation
Taylor Brock, Capital
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