Determine the classification accounts as to asset, liability and equity. If asset or liability determine if it is current or non current Account title SFP classification 1.Accrued rent 2. Marketable securities 3. Deferred income 4. Notes due to suppliers 5. Precollected rent 6. Investment in real estate 7. Notes due from customers 8. Franchise 9. Bad debts 10. Amortization- franchise 11. Patents
Determine the classification accounts as to asset, liability and equity. If asset or liability determine if it is current or non current Account title SFP classification 1.Accrued rent 2. Marketable securities 3. Deferred income 4. Notes due to suppliers 5. Precollected rent 6. Investment in real estate 7. Notes due from customers 8. Franchise 9. Bad debts 10. Amortization- franchise 11. Patents
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements
Section: Chapter Questions
Problem 2E: List the classification of each of the following accounts as A (asset), L (liability), OE (owners...
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Question
Determine the classification accounts as to asset, liability and equity. If asset or liability determine if it is current or non current
Account title | SFP | classification |
1.Accrued rent 2. Marketable securities 3. Deferred income 4. Notes due to suppliers 5. Precollected rent 6. Investment in real estate
7. Notes due from customers 8. Franchise 9. 10. Amortization- franchise 11. Patents |
||
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