Classified Balance Sheets Commonly Include the Following Categories

question 63

Essay

Classified balance sheets commonly include the following categories.(a) Current assets(b) Investments(c) Property, plant and equipment(d) Intangible assets(e) Current liabilities(f) Non-current liabilities(g) Equity Indicate the typical classification of each item listed below by placing the letter of the correct balance sheet category in the blank space next to the item.(1) ______ Margarita Acosta, capital(2) ______ Cash(3) ______ Office supplies(4) ______ Accounts receivable(5) ______ Prepaid expenses(6) ______ Merchandise inventory(7) ______ Buildings used in business operations(8) ______ Wages payable(9) ______ Long-term note payable(10) ______ Accounts payable(11) ______ Patents(12) ______ Land held for future plant expansion

---

Definitions:

Underground Railroad

Operating in the decades before the Civil War, a clandestine system of routes and safehouses through which slaves were led to freedom in the North.

Disenfranchisement

Depriving a person or persons of the right to vote; in the United States, exclusionary policies were used to deny groups, especially African-Americans and women, their voting rights.

Constitutional Provisions

Constitutional provisions are specific articles, clauses, and amendments in a constitution that outline the framework and principles governing a country.