Homework Answers
Indicating whether each Account would be reported in Balance Sheet:-
| No. | Item | Reported in Section |
|---|---|---|
| 1. | Building | Property, Plant and Equipment |
| 2. | Cindy Sue Delaney, Capital | Owner's Equity |
| 3. | Notes Payable (Due in five years) | Long-term Liabilities |
| 4. | Prepaid Rent | Current Assets |
| 5. | Salaries Payable | Current Liabilities |
| 6. | Supplies | Current Assets |
| 7. | Taxes Payable | Current Liabilities |
| 8. | Unearned Service Fees | Current Liabilities |
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