Solved

Match Each Account to the Classification Scheme for a Balance

Question 62

Matching

Match each account to the classification scheme for a balance sheet

Premises:
Additional paid-in capital
Cost of Goods Sold
Customer Advances
Land
Temporary Investments
Mortgage Payable (due in ten years)
Common Stock
Goodwill
Notes Payable (due in ten months)
Special Fund for Purchase of a Building
Responses:
Current assets
Investments
Property, plant, and equipment
Intangible assets
Current liabilities
Long-term liabilities
Contributed capital
Retained earnings
Not on balance sheet

Correct Answer:

Additional paid-in capital
Cost of Goods Sold
Customer Advances
Land
Temporary Investments
Mortgage Payable (due in ten years)
Common Stock
Goodwill
Notes Payable (due in ten months)
Special Fund for Purchase of a Building
Related Questions

Q34: In a manual system which uses a

Q45: Which of the following accounts most likely

Q47: Why would a large company probably benefit

Q54: An amount for Retained Earnings would not

Q59: Match the following financial statement ratios with

Q60: Match each account to the classification scheme

Q61: Match each account to the classification scheme

Q63: Match each account to the classification scheme

Q64: Each of the following statements violates a

Q65: Each of the following statements is justified

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