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Indicate the Typical Classification of Each Item Listed Below by Placing

Question 234

Matching

Indicate the typical classification of each item listed below by placing the correct balance sheet category

Premises:
Prepaid insurance
Common stock
Buildings used in business operations
Wages payable
Accounts payable
Retained earnings
Current portion of long-term debt
Land held for future plant expansion
Cash
Long-term note payable
Accounts receivable
Patents
Responses:
Plant assets
Equity
Investments
Long-term liabilities
Current assets
Current liabilities
Intangible assets

Correct Answer:

Prepaid insurance
Common stock
Buildings used in business operations
Wages payable
Accounts payable
Retained earnings
Current portion of long-term debt
Land held for future plant expansion
Cash
Long-term note payable
Accounts receivable
Patents
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