Given the Following List of General Ledger Accounts for the Shenghai

question 32

Essay

Given the following list of general ledger accounts for the Shenghai Company,choose the appropriate accounts and show how they would be reported (using the proper headings and format)in the current asset and current liability sections of the statement of financial position.
Accounts Receivable
Accounts Payable
Accumulated Depreciation-Buildings
Administrative Expenses
Allowance for Uncollectible Accounts
Available-for-Sale Securities
Bonds Payable
Buildings
Cash
Common Stock
Cost of Goods Sold
Customer Deposits
Deferred Income Tax Payable
Discount on Bonds Payable
Gain on Sale of Equipment
Income Tax Payable
Interest Income
Lease Obligations
Loss on Sale of Bonds
Market Adjustment - Trading Securities
Merchandise Inventory
Note Payable (due in 6 months)Prepaid Expenses
Retained Earnings
Sales
Selling Expenses
Trading Securities
Treasury Stock
Unrealized Gains and Losses
Wages Payable

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Definitions:

Acquisition

Acquisition in the context of psychology refers to the initial stage of learning when a response is first established or a new skill is begun to be acquired.

Classical Conditioning

Learning through the relationship between a naturally present stimulus and one that comes from the environment.

Extinction

In the context of psychology, it refers to the gradual diminishing of a conditioned response when the reinforcement or the association with a stimulus is removed.

Operant Conditioning

An educational method where the intensity of an action is altered by either encouraging or penalizing it.