Solved

Match the Accounts Found on Balance Sheets to the Classification

Question 264

Matching

Match the accounts found on balance sheets to the classification scheme for a statement of financial position .

Premises:
Accumulated Depreciation
Retained Earnings
Interest Expense
Income Taxes Payable
Dividends
Inventory
Patent
Prepaid Insurance
Mortgage Payable
Investment in long-term bonds
Responses:
Intangible assets
Property, plant, and equipment
Long-term investments
Current assets
Equity
Non-current liabilities
Current liabilities
Not on the statement of financial position

Correct Answer:

Accumulated Depreciation
Retained Earnings
Interest Expense
Income Taxes Payable
Dividends
Inventory
Patent
Prepaid Insurance
Mortgage Payable
Investment in long-term bonds
Related Questions

Q201: At the end of an accounting period

Q222: A worksheet is an optional working tool

Q235: Give the definition of current assets and

Q241: The four major classifications of assets in

Q250: Two permanent accounts that are part of

Q255: A company has purchased a trust of

Q256: Match the items below by entering the

Q261: Companies that use GAAP
A) do not have

Q262: Current assets under GAAP are listed generally
A)

Q263: Match the statements below with the appropriate

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents