From the dropdown box beside each numbered balance sheet item, select the option of its balance...

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From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the Current assets Current liabilities Equity Intangible assets Long-term investments

business accounting

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Answer 1

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Answer #1

Classification

1	Prepaid insurance	Current assets	11	Depreciation expense-Building	No items required
2	Trademarks	Intangible assets	12	Office equipment	Plant assets
3	Cash	Current assets	13	Common Stock	Equity
4	patents	Intangible assets	14	Building	Plant assets
5	Interest receivable	Current assets	15	Bonds payable	Long term liabilities
6	Machinery	Plant assets	16	Accumulated depreciation-Trucks	Plant assets
7	Prepaid rent	Current assets	17	Mortgage payable	Long term liabilities
8	Equipment	Plant assets	18	Automobiles	Plant assets
9	Repairs expense	No items required	19	Notes payable (due in 3 years)	Long term liabilities
10	Land (used in operation)	Plant assets	20	Land held for future expansion	Long term investment

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Answer 2

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