Business
Business, 22.01.2021 19:40, hickslily9

The following classification scheme typically is used in the preparation of a balance sheet: a.
Current assets
f.
Current liabilities
b.
Investments and funds
g.
Long-term liabilities
c.
Property, plant, and equipment
h.
Contributed capital
d.
Intangible assets
i.
Retained earnings
e.
Other assets
Using the letters above and the format below, indicate the balance sheet category in which an entity typically would place each of the following items. Indicate a contra account by placing your answer in parentheses.

1.Long-term receivables

2.Accumulated amortization

3.Current maturities of long-term debt

4Notes payable (short term)

5.Accrued payroll taxes

6.Leasehold improvements

7.Retained earnings appropriated for plant expans

8.Machinery

9.Donated capital

10.Short-term investments

11.Deferred tax liability(long term)

12.Allowance for uncollectible accounts

13.Premium on bonds payable

14. Supplies inventory

15.Additional paid-incapital

16.Work-in-process inventory

17.Notes receivable (short-term)

18.Copyrights

19.Unearned revenue(long-term)

20.Inventory

answer
Answers: 1

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The following classification scheme typically is used in the preparation of a balance sheet: a.

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