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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 |
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