E5-3

Exercises on Chapter 5 Exercise 5-3 (Classification of rest Sheet Accounts) Assume that fielder Enterprises determinations the following headings on its remnant Sheets. a) Cur take in Assets b) Investments c) Property, plant and equipment d) impalpable assets e) Other assets f) Current liabilities g) long liabilities h) Capital commonplace i) Paid-in capital in excess of you j) Retained imbibeings instruction manual: Indicate by earn how each of the following ordinarily should be classified. If an item should fix up in a note to the financial statements, use the earn N to demo this fact. If an item need not be reported at all on the dimension poll use the garner X.

1) Unexpired Insurance (a) flux ASSET 2) Stock owned in affiliated companies (b) INVESTMENT 3) Unearned subscriptions revenue (f) newfangled LIABILITY 4) Advances to suppliers (a) flowing ASSET 5) Unearned rent revenue (f) CURRENT LIABILITY 6) Preferred Stock (h) working capital STOCK 7) aid on preferable stock (i) PAID-IN CAPITAL IN repletion OF PAR 8) Copyrights (d) nonphysical ASSETS 9) Petty interchange breed (a) CURRENT ASSET 10) Sales levy collectable (f) CURRENT LIABILITY 11) accumulated involution on notes receivable (a) CURRENT ASSET 12) Twenty-year loose of bonds payable that will raise within the next year. (No drop fund exists, and refunding is not planned) (f) CURRENT LIABILITY 13) Machinery retired from use and held for sale (a) CURRENT ASSETS (b) different ASSETS 14) near depreciated machine yet in use (c) PROPERTY, PLANT, AND EQUIPMENT OR N 15) Accrued interest on bonds payableIf you want to get a full essay, order it on our website: Orderessay

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