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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 59
Classified balance sheet
The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would be reported in the (A) current asset; (B) property, plant, and equipment; (C) current liability; (D) long-term liability; or (E) stockholders' equity section of the December 31, 2018, balance sheet of Kangaroo Consulting.
1. Accounts Payable
2. Accounts Receivable
3. Accumulated Depreciation-Building
4. Cash
5. Common Stock
6. Note Payable (due in ten years)
7. Supplies
8. Wages Payable
The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would be reported in the (A) current asset; (B) property, plant, and equipment; (C) current liability; (D) long-term liability; or (E) stockholders' equity section of the December 31, 2018, balance sheet of Kangaroo Consulting.
1. Accounts Payable
2. Accounts Receivable
3. Accumulated Depreciation-Building
4. Cash
5. Common Stock
6. Note Payable (due in ten years)
7. Supplies
8. Wages Payable
Explanation
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The adjusted trial balance is an interna...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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