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Classify the Following Balance Sheet Accounts as Current Assets,noncurrent Assets,current

question 6

Short Answer

Classify the following balance sheet accounts as current assets,noncurrent assets,current liabilities,noncurrent liabilities,or stockholders' equity.
1.Building
2.Retained earnings
3.Notes payable due in 3 months
4.Land
5.Prepaid expenses
6.Supplies inventory
7.Common stock
8.Notes payable due in 5 years
9.Income taxes payable
10.Accounts receivable

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Definitions:

World Price

The international market price of a good, influenced by global demand and supply conditions.

Domestic Price

The price of goods or services within a country's borders.

Oil Barrels

A standard unit of measure for crude oil and other petroleum products, equivalent to 42 U.S. gallons.

Foreign Competition

The presence and influence of international companies in a domestic market, which can affect local businesses.

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