C. Reed, capital D. Reed, withdrawls E. Depreciation expense uo contributions ma

Question

C. Reed, capital D. Reed, withdrawls E. Depreciation expense uo contributions made by the owner during the year vecember 31, 2018 Prepare the classified balance sheet as of December 31, 2018. Use the report forr 1 EA-17 Classifying balance sheet accounts For each account listed, identify the category that it would appear on a classified nce sheet. Use the following categories: Current Assets; Long-term Investments bal Property, Plant, and Equipment;, Intangible Assets; Current Liabilities; Long-term Liabilities; and Owner's Equity. If the item does not belong on the classified bal- ance sheet, put an X. a. Land (used in operations) b. Accumulated Depreciation--Equipment

Explanation / Answer

a. Land - Property, Plant, and Equipment

b. Accumulated Depreciation -Equipment - Property, Plant, and Equipment

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