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Problem 4-3B Determining balance sheet classifications C3
In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank.
A. Current assets
B. Long-term investments
C. Plant assets
D. Intangible assets
E. Current liabilities
F. Long-term liabilities
G. Equity
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______1. Commissions earned
______2. Interest receivable
______3. Long-term investment in stock
______4. Prepaid insurance (4 months of rent)
______5. Machinery
______6. Notes payable (due in 15 years)
______7. Copyrights
______8. Current portion of long-term note payable
______9.
______10. Office equipment
______11. Rent receivable
______12. Salaries payable
______13. Income taxes payable (due in 11 weeks)
______14. Owner Capital
______15. Office supplies
______16. Interest payable
______17. Rent revenue
______18. Notes receivable (due in 120 days)
______19. Land (used in operations)
----20. Depreciation expense—Trucks
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