Examlex

Solved

The Alphabetized Adjusted Trial Balance for SimCo Electrical Outfitters at August

question 137

Essay

The alphabetized adjusted trial balance for SimCo Electrical Outfitters at August 31, 2020, is shown below. Identify how each account balance would be classified on a balance sheet given the following classification symbols:
 CA  Curent assets  CL  Curent liabilities  PPE  Property, plart ard equipment  LTL  Long-term liabilities  IA  Intangible asset  OE  Equity  LTI  Long-term irvestment  NA  Not applicable to a  balance sheet \begin{array} { | l | l | l | l | } \hline \text { CA } & \text { Curent assets } & \text { CL } & \text { Curent liabilities } \\\hline \text { PPE } & \text { Property, plart ard equipment } & \text { LTL } & \text { Long-term liabilities } \\\hline \text { IA } & \text { Intangible asset } & \text { OE } & \text { Equity } \\\hline \text { LTI } & \text { Long-term irvestment } & \text { NA } & \begin{array} { l } \text { Not applicable to a } \\\text { balance sheet }\end{array} \\\hline\end{array}  The alphabetized adjusted trial balance for SimCo Electrical Outfitters at August 31, 2020, is shown below. Identify how each account balance would be classified on a balance sheet given the following classification symbols:   \begin{array} { | l | l | l | l | }  \hline \text { CA } & \text { Curent assets } & \text { CL } & \text { Curent liabilities } \\ \hline \text { PPE } & \text { Property, plart ard equipment } & \text { LTL } & \text { Long-term liabilities } \\ \hline \text { IA } & \text { Intangible asset } & \text { OE } & \text { Equity } \\ \hline \text { LTI } & \text { Long-term irvestment } & \text { NA } & \begin{array} { l }  \text { Not applicable to a } \\ \text { balance sheet } \end{array} \\ \hline \end{array}


Definitions:

Related Questions