Question

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Helder Enterprises, indicate how each of the following usually should be classified. If an item should appear in a note to the financial ments, select "Note to Financial Statement" to indicate this fact. If an item needs to be reported on the balance sheet, select "Balance t" and if an item need not be reported at all, select "Not to be Reported." Transactions Reported in Classification Prepaid insurance Note to Financial Statement Long-term Liabilities Stock owned in affiliated companies Note to Financial Statement Capital Stock Unearned service revenue. Not to be Reported Current Liabilities Advances to suppliers. Balance Sheet Current Liabilities Unearned rent revenue. Not to be Reported Current Liabilities Note to Financial Statement Equity attributed to noncontrolling interest Preferred stock Additional paid in capital on preferred stock. Balance Sheet Equity attributed to noncontrolling interest Intangible Assets Not to be Reported Copyrights.

Answer 1

Transactions 1 Prepaid Insurance 2 Stock owned in affiliated companies 3 Unearned Service Revenue 4 Advance to suppliers 5 Unearned Rent Revenue 6 Preferred stock 7 Add.Paid in capital on preferred stock 8 Copy rights Reported In Classification Balance Sheet Current Assets Balance Sheet Investments Balance Sheet Current Liabilities Balance Sheet Current Assets Balance Sheet Current Assets Balance Sheet Capital Stock Balance Sheet Paid capital in excess of par Balance Sheet Intangible Assets