Textbook Problem

Classified balance sheet

The following accounts appear in an adjusted trial balance of San Jose Consulting. Indicate whether each account would be reported in the (a) Current assets; (b) Property, plant, and equipment; (c) Current liabilities; (d) Long-term liabilities; or (e) Stockholders’ equity section of the December 31, 20Y8, balance sheet of San Jose Consulting.

1.    Building

2.    Common Stock

3.    Notes Payable (due in five years)

4.    Prepaid Rent

5.    Salaries Payable

6.    Supplies

7.    Taxes Payable

8.    Unearned Service Fees