Homework Answers
Based on the information available in the question, we can answer as follows:-
| S.No | Account Title | Classification |
| 1 | Accumulated Depreciation - Trucks | Plant assets |
| 2 | Mortgages Payables(due in 6 years) | Long term liabilities |
| 3 | Automobiles | Plant assets |
| 4 | Notes Payable(due in 3 years) | Long term liabilities |
| 5 | Land held for future expansion | Long term Investments |
| 6 | Notes Payable(due in 2 months) | Current Liabilities |
| 7 | Notes Payable(due in 2 years) | Long term liabilities |
| 8 | Interest Payable(due in 1 week) | Current Liabilities |
| 9 | Long term investment in stock | Long term Investments |
| 10 | Wages Payable | Current Liabilities |
| 11 | Office supplies | Current Assets |
| 12 | Salaries Payable | Current Liabilities |
| 13 | Merchandise Inventory | Current assets |
| 14 | Current portion of Long term note payable | Current Liabilities |
| 15 | Short term notes receivable | Current assets |
| 16 | Unearned services revenue | Current Liabilities |
| 17 | Accounts Receivables | Current assets |
| 18 | Accounts Payable | Current Liabilities |
| 19 | Short term investments | Current assets |
| 20 | Taxes payable(due in 5 weeks) | Current Liabilities |
Please let me know if you have any questions via comments and all the best :)
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