Matching
enter the letter of its balance sheet classification.
Premises:
Cash
Inventory
Land
Machine
Building
Income taxes payable in 30 days
Utilities payable
Note receivable due in 30 days
Common Stock
Goodwill
Value of company logo
Wages expense
Value of land in excess of cost
Mortgage payable
Accounts receivable
Responses:
Current assets
Long-term investments
Long-term assets
Intangible assets
Current liabilities
Noncurrent liabilities
Equity
the item should not appear on the balance sheet
Correct Answer:
Premises:
Responses:
Cash
Inventory
Land
Machine
Building
Income taxes payable in 30 days
Utilities payable
Note receivable due in 30 days
Common Stock
Goodwill
Value of company logo
Wages expense
Value of land in excess of cost
Mortgage payable
Accounts receivable
Premises:
Cash
Inventory
Land
Machine
Building
Income taxes payable in 30 days
Utilities payable
Note receivable due in 30 days
Common Stock
Goodwill
Value of company logo
Wages expense
Value of land in excess of cost
Mortgage payable
Accounts receivable
Responses:
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