The world’s Largest Sharp Brain Virtual Experts Marketplace Just a click Away
Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
P4-1       Classifications on Balance Sheet  The current balance sheet of Day Company 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
The following is a list of 37 accounts. Using the letters A through K, indicate in which section each account would most likely 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.
Â
|
          |
1. Patents (net) |
          |
6. Data processing center |
|
          |
2. Income taxes payable |
          |
7. Furniture |
|
          |
3. Notes receivable |
          |
8. Land held for future expansion |
|
 |
(due in 5 months) |
          |
9. Timberland (net) |
|
          |
4. Unearned rent |
          |
10. Treasury stock, at cost |
|
          |
5. Discount on bonds payable |
          |
11. Advances to sales personnel |
|
 |
(long-term bonds) |
          |
12. Idle machinery |
Â
Â
Â
Â
Â
            13. Deferred taxes payable                                                             26. Cash surrender value of life
            14. Raw materials                                                                                       insurance
            15. Investment in held-to-maturity bonds                                    27. Leased equipment under
            16. Pollution control facilities                                                                   capital lease
            17. Cash from security deposits                                                      28. Additional paid-in capital of customers on returnable                                                                     on preferred stock containers                                                                                              29. Interest receivable (due in
            18. Donated capital for industrial                                                             5 months) park building site from                                                                    30. Office supplies
Toma City                                                                                31. Accrued pension cost
            19. Trademarks                                                                               32. Capital lease obligation
            20. Finished goods                                                                        33. Investment in 8-year certificates
            21. Cash dividends payable                                                                      of deposit
           22. Bond sinking fund                                                                   34. Unearned ticket sales
            23. Temporary investments                                                           35. Estimated warranty (6-months)
            24. Retained earnings                                                                                 obligations
            25. Advances to affiliated company                                                36. Unrealized decrease in value (long-term)                                                                                                            of available-for-sale securities
           37. Cash
Â
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll