The following are the major balance sheet classifications. Classify each of the following financial statement items taken from Remington Corporation’s balance sheet

The following are the major balance sheet classifications. 

Current assets (CA) 

Long-term investments (LTI) 

Property, plant, and equipment (PPE) 

Intangible assets (IA) 

Current liabilities (CL) 

Long-term liabilities (LTL) 

Common stock (CS) 

Retained earnings (RE) 

Instructions:

Classify each of the following financial statement items taken from Remington Corporation’s balance sheet. 

____ Accounts payable and accrued liabilities 

____ Accounts receivable 

____ Accumulated depreciation 

____ Buildings 

____ Cash and short-term investments 

____ Dividends payable 

____ Goodwill 

____ Income taxes payable 

____ Inventories 

____ Investments 

____ Land 

____ Long-term debt 

____ Materials and supplies 

____ Office equipment and furniture 

____ Prepaid expenses