Solved

Match Each Balance Sheet Category to Each Financial Statement Item

Question 84

Matching

Match each balance sheet category to each financial statement item that would be reported in it.

Premises:
Contributed capital
Prepaid insurance
Accounts payable
Sales revenue
Delivery truck
Responses:
Current assets
Long-term investments
Property, plant, and equipment
Intangible assets
Current liabilities
Long-term liabilities
Shareholders’ equity
Not disclosed on the balance sheet

Correct Answer:

Current assets
Long-term investments
Property, plant, and equipment
Intangible assets
Current liabilities
Long-term liabilities
Shareholders’ equity
Not disclosed on the balance sheet
Related Questions

Q77: Why would a company use a notes

Q78: Which business activity occurs first for a

Q79: Explain the concept of liquidity.

Q80: Which assets on a company's balance sheet

Q81: Distinguish between the amounts reported on the

Q82: Describe how the equity sections of balance

Q83: For each financial statement item , identify

Q85: Match the balance sheet items to the

Q86: For each financial statement item identify the

Q87: identify each statement to accounting element

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents