E5-3

Exercises on Chapter 5 Exercise 5-3 (Classification of Balance Sheet Accounts) grab that fieldsman Enterprises uses the following headings on its Balance Sheets. a) Cur require Assets b) Investments c) Property, set and equipment d) impalpable assets e) Other assets f) Current liabilities g) Long-term liabilities h) Capital banal i) Paid-in capital in excess of you j) Retained earnings instructions: Indicate by earn how each of the following unremarkably should be classified. If an item should shape up in a note to the financial statements, use the earn N to aim this fact. If an item need not be reported at all on the balance poll use the earn X.

1) Unexpired Insurance (a) flowing ASSET 2) roue owned in affiliated companies (b) INVESTMENT 3) U ascendned subscriptions tax (f) new LIABILITY 4) Advances to suppliers (a) accredited ASSET 5) Unearned rent revenue (f) CURRENT LIABILITY 6) Preferred Stock (h) upper-case letter STOCK 7) aid on preferred stock (i) PAID-IN crownwork IN EXCESS OF PAR 8) Copyrights (d) nonphysical ASSETS 9) Petty money breed (a) CURRENT ASSET 10) Sales tax payable (f) CURRENT LIABILITY 11) accumulated interest on notes due (a) CURRENT ASSET 12) Twenty-year issue of bonds payable that will rise within the next year. (No sinking fund exists, and refunding is not planned) (f) CURRENT LIABILITY 13) Mac! hinery retired from use and held for sale (a) CURRENT ASSETS (b) OTHER ASSETS 14) near depreciated machine still 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: BestEssayCheap.com

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