Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 21 Aug 2017 My Price 12.00

list of several accounts

E4-5        Classifications on Balance Sheet   The balance sheet contains the following major  sections:

 

A. Current assets

G.  Long-term liabilities

B.  Long-term investments

H.  Other liabilities

C. Property, plant, and equipment

I.   Contributed capital

D. Intangible assets

J.   Retained earnings

E.  Other assets

K.  Accumulated other comprehensive income

F.    Current liabilities

 

Required

The following is a list of several accounts. Using the letters A through K, indicate in which section of the balance sheet each of the accounts would be classified. Place a check mark ()) beside each item that is a contra account. If an account cannot be classified in any of the preceding sections, indicate with an X and explain.

                1. Cash                                                                                12.  Allowance for doubtful accounts

                2. Bonds payable (due in 8 years)                                       13. Notes receivable (due in 3 years)

                3. Machinery                                                                        14. Property taxes payable

                4. Deficit                                                                              15. Deferred taxes payable

                5. Unexpired insurance                                                       16. Premium on preferred stock

                6. Franchise (net)                                                                17. Premium on bonds payable (due in 8 years)

                7. Fund to retire preferred stock                                        18.  Work in process

                8. Current portion of mortgage payable                             19. Common stock, $1 par

                9. Accumulated depreciation                                               20. Land

               10. Copyrights                                                                      21. Treasury stock (at cost)

               11. Investment in held-to-maturity bonds                           22. Unrealized increase in value of available-for-

sale securities

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Aug 2017 03:08 PM My Price 12.00

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