E5-3

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

1) Unexpired Insurance (a) flowing ASSET 2) carry owned in affiliated companies (b) INVESTMENT 3) U come alongned subscriptions tax income (f) new LIABILITY 4) Advances to suppliers (a) occurrent ASSET 5) Unearned rent revenue (f) CURRENT LIABILITY 6) Preferred Stock (h) great(p) STOCK 7) aid on preferred stock (i) PAID-IN groovy IN EXCESS OF PAR 8) Copyrights (d) nonphysical ASSETS 9) Petty coin breed (a) CURRENT ASSET 10) Sales tax collectable (f) CURRENT LIABILITY 11) accumulated interest on notes due (a) CURRENT ASSET 12) Twenty-year issue of bonds payable that will get on with within the next year. (No sinking fund exists, and refunding is not plan ned) (f) CURRENT LIABILITY 13) Machine! ry 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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