Classifying balance sheet accounts For each account listed, identify the category in which it would appear on a classified balance sheet. a. Office Supplies b. Interest Payable c. Retained Earnings d. Copyrights e. Land f. Accumulated Depreciation—Furniture g. Land (held for long-term investment purposes) h. Unearned Revenue i. Notes Payable (due in six years)
Classifying balance sheet accounts For each account listed, identify the category in which it would appear on a classified balance sheet. a. Office Supplies b. Interest Payable c. Retained Earnings d. Copyrights e. Land f. Accumulated Depreciation—Furniture g. Land (held for long-term investment purposes) h. Unearned Revenue i. Notes Payable (due in six years)
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 1PA: Identify whether each of the following accounts would be considered a permanent account (yes/no) and...
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Classifying balance sheet accounts
For each account listed, identify the category in which it would appear on a classified balance sheet.
a. Office Supplies
b. Interest Payable
c.
d. Copyrights
e. Land
f.
g. Land (held for long-term investment purposes)
h. Unearned Revenue
i. Notes Payable (due in six years)
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