Solved

Match the Account Titles Given Below with the Appropriate Balance

Question 205

Matching

Match the account titles given below with the appropriate balance sheet classification. An individual classification may be used more than once, or not at all. An account may also not appear in the balance sheet.

Premises:
Service Revenue
Unearned Rent Revenue
Accumulated Depreciation—Equipment
Accounts Payable
Trademarks
Short-term Investments
Owner’s Capital
Prepaid Insurance
Accounts Receivable
Owner’s Drawing
Supplies
Taxes Payable
Rent Expense
Salaries and Wages Payable
Mortgage Note Payable
Copyrights
Equipment
Responses:
Current Assets
Property, Plant and Equipment
Long-term Investments
Intangible Assets
Current Liabilities
Long-term Liabilities
Owner's Equity
Not separately presented on the balance sheet

Correct Answer:

Service Revenue
Unearned Rent Revenue
Accumulated Depreciation—Equipment
Accounts Payable
Trademarks
Short-term Investments
Owner’s Capital
Prepaid Insurance
Accounts Receivable
Owner’s Drawing
Supplies
Taxes Payable
Rent Expense
Salaries and Wages Payable
Mortgage Note Payable
Copyrights
Equipment
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