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xercise 4-15

The following are the major balance sheet classifications.


Current assets Current liabilities
Long-term investments Long-term liabilities
Property, plant, and equipment Stockholders’ equity
Intangible assets

 

 

Classify each of the following accounts taken from Geraldo Company’s balance sheet.

Balance Sheet Classification Accounts
 Accounts payable
 Accounts receivable
 Cash
 Common Stock
 Patents
 Salaries and wages payable
 Inventory
 Investments
 Accumulated depreciation
 Buildings
 Land
 Long-term debt
 Supplies
 Equipment
 Prepaid expenses
    • 10 years ago
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