Match the accounts listed below with the proper financial statement classificati

Question

Match the accounts listed below with the proper financial statement classifications (each question only has one right answer but the letters can be used more than once):
A. Current Assets
B. Property, Plant, & Equipment
C. Current Liabilities
D. Long-term Liabilities
E. Stockholder's Equity
F. Revenue
G. Expenses

_____1. Inventory
_____2. Accounts Payable
_____3. Note payable in ten years
_____4. Accumulated depreciation on building
_____5. Accrued payroll
_____6. Accounts receivable
_____7. Building
_____8. Sales
_____9. Land (used in operations)
_____10. Prepaid expenses
_____11. Rent expense
_____12. Cash
_____13. Salary expenses
_____14. Retained earnings

Explanation / Answer

A= 12, 6, 1, 10 B= 7 (4), 9 C= 2, 5 D= 3 E= 14 F= 8 G= 11, 13

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