Item Classification 1. Accounts pa yable 2. Machinery 3. Inventory а. Current assets b. Property, plant, and equipment Intangible assets с. 4. Common stock d. Current liabilities Long-term liabilities Contributed capital Retained earnings 5. Notes payable (due in 5 years) е. 6. Cash f. 7. Соруright 8. Net income less dividends 9. Accumulated depreciation 10. g. Accounts receivable

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.4.4MBA
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Listed below are items that may appear on a balance sheet.              Required:
Match each item with its appropriate classification on the balance sheet.
Item
Classification
1. Accounts pa yable
2. Machinery
3. Inventory
а.
Current assets
b.
Property, plant, and equipment
Intangible assets
с.
4.
Common stock
d.
Current liabilities
Long-term liabilities
Contributed capital
Retained earnings
5.
Notes payable (due in 5 years)
е.
6.
Cash
f.
7. Соруright
8. Net income less dividends
9. Accumulated depreciation
10.
g.
Accounts receivable
Transcribed Image Text:Item Classification 1. Accounts pa yable 2. Machinery 3. Inventory а. Current assets b. Property, plant, and equipment Intangible assets с. 4. Common stock d. Current liabilities Long-term liabilities Contributed capital Retained earnings 5. Notes payable (due in 5 years) е. 6. Cash f. 7. Соруright 8. Net income less dividends 9. Accumulated depreciation 10. g. Accounts receivable
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