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Match the Balance Sheet Items to the Appropriate Section of the Balance

Question 85

Matching

Match the balance sheet items to the appropriate section of the balance sheet

Premises:
Amounts owed for purchasing inventory from creditors (due next month).
Cumulative profits retained by the company since operations began.
Cost of a building expected to be used by the company for ten more years.
Responses:
Long-term Investments
Property, Plant, & Equipment
Current Liabilities
Long-term Liabilities
Shareholders’ Equity

Correct Answer:

Long-term Investments
Property, Plant, & Equipment
Current Liabilities
Long-term Liabilities
Shareholders’ Equity
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