Homework Help is Here – Start Your Trial Now!
Business
Accounting
The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Contributed capital i. Retained earnings Required: Using the letters above and the format below, indicate the balance sheet category from the dropdown listing in which an entity typically would place each of the following items. Contra accounts should be indicated by the corresponding dropdown choice shown with parentheses. (If an Item relates to more than one balance sheet category, select the dropdown option that represents all applicable categories.) 1. Long-term receivables 2. Accumulated amortization 3. Current maturities of long-term debt 4. Notes payable (short-term) 5. Accrued payroll taxes 6. Leasehold improvements 7. 8. Machinery 9. Common stock 10. Short-term investments 11. Deferred tax liability Retained earnings appropriated for plant expansion 12. Allowance for uncollectible accounts 13. Premium on bonds payable 14. Supplies inventory 15. Additional paid-in capital 16. Work-in-process inventory 17. Notes receivable (short-term) 18. Copyrights 19. Deferred revenue (long-term) 20. Inventory

The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Contributed capital i. Retained earnings Required: Using the letters above and the format below, indicate the balance sheet category from the dropdown listing in which an entity typically would place each of the following items. Contra accounts should be indicated by the corresponding dropdown choice shown with parentheses. (If an Item relates to more than one balance sheet category, select the dropdown option that represents all applicable categories.) 1. Long-term receivables 2. Accumulated amortization 3. Current maturities of long-term debt 4. Notes payable (short-term) 5. Accrued payroll taxes 6. Leasehold improvements 7. 8. Machinery 9. Common stock 10. Short-term investments 11. Deferred tax liability Retained earnings appropriated for plant expansion 12. Allowance for uncollectible accounts 13. Premium on bonds payable 14. Supplies inventory 15. Additional paid-in capital 16. Work-in-process inventory 17. Notes receivable (short-term) 18. Copyrights 19. Deferred revenue (long-term) 20. Inventory

Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing
Section: Chapter Questions
Problem 14E
See similar textbooks
icon
Related questions
Question
The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Contributed capital i. Retained earnings Required: Using the letters above and the format below, indicate the balance sheet category from the dropdown listing in which an entity typically would place each of the following items. Contra accounts should be indicated by the corresponding dropdown choice shown with parentheses. (If an Item relates to more than one balance sheet category, select the dropdown option that represents all applicable categories.) 1. Long-term receivables 2. Accumulated amortization 3. Current maturities of long-term debt 4. Notes payable (short-term) 5. Accrued payroll taxes 6. Leasehold improvements 7. 8. Machinery 9. Common stock 10. Short-term investments 11. Deferred tax liability Retained earnings appropriated for plant expansion 12. Allowance for uncollectible accounts 13. Premium on bonds payable 14. Supplies inventory 15. Additional paid-in capital 16. Work-in-process inventory 17. Notes receivable (short-term) 18. Copyrights 19. Deferred revenue (long-term) 20. Inventory
Transcribed Image Text:The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Contributed capital i. Retained earnings Required: Using the letters above and the format below, indicate the balance sheet category from the dropdown listing in which an entity typically would place each of the following items. Contra accounts should be indicated by the corresponding dropdown choice shown with parentheses. (If an Item relates to more than one balance sheet category, select the dropdown option that represents all applicable categories.) 1. Long-term receivables 2. Accumulated amortization 3. Current maturities of long-term debt 4. Notes payable (short-term) 5. Accrued payroll taxes 6. Leasehold improvements 7. 8. Machinery 9. Common stock 10. Short-term investments 11. Deferred tax liability Retained earnings appropriated for plant expansion 12. Allowance for uncollectible accounts 13. Premium on bonds payable 14. Supplies inventory 15. Additional paid-in capital 16. Work-in-process inventory 17. Notes receivable (short-term) 18. Copyrights 19. Deferred revenue (long-term) 20. Inventory
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS