Solved

Match the Following Balance Sheet Classifications with the Accounts Listed

Question 103

Matching

Match the following balance sheet classifications with the accounts listed below.

Premises:
Investment in Nike Common Stock
Inventory
Advertising Expense
Retained Earnings
Patent
Note Receivable from customer due in 5 years
Prepaid Rent
Accounts Receivable
Interest Payable
Note Payable due in 60 days
Equipment
Land
Cash
Accounts Payable
Note Payable (Due in 10 Years)
Responses:
Investments
Current Assets
Intangible Assets
Stockholders' Equity
Property Plant and Equipment
Does not appear on the Balance Sheet
Long-Term Liabilities
Current Liabilities

Correct Answer:

Investment in Nike Common Stock
Inventory
Advertising Expense
Retained Earnings
Patent
Note Receivable from customer due in 5 years
Prepaid Rent
Accounts Receivable
Interest Payable
Note Payable due in 60 days
Equipment
Land
Cash
Accounts Payable
Note Payable (Due in 10 Years)
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