Balance Sheet Accounts Balance Sheet Classification 1. Preferred stock. 2. Goodw

Question

Balance Sheet Accounts Balance Sheet Classification 1. Preferred stock. 2. Goodwill 3. Salaries and wages payable 4. Accounts payable 5. Buildings 6. Equity investments (to be sold in the next year) 7. Current maturity of long-term debt. 8. Premium on bonds payable 9. Allowance for doubtful accounts 10. Accounts receivable 11. Cash surrender value of life insurance 12. Notes payable (due next year) 13. Supplies 14. Common stock. 15. Land 16. Bond sinking fund 17. Inventory 18. Prepaid insurance 19. Bonds payable 20. Income taxes payable

Explanation / Answer

Answer:-

S.no. Balance Sheet Accounts Balance SheetClassification 1 Preferred stock Stockholder's equity 2 Goodwill Intangible assets 3 Salaries & wages payable Current liabilities 4 Accounts payable Current liabilities 5 Buildings Fixed assets 6 Equity investments Long term investments 7 Current maturity of long term debt Long term liabilties 8 Premium on bond payable Long term liabilties 9 Allowance for doubltful accounts Current assets 10 Accounts receivable Current assets 11 Cash surrender value of life insurance Other current assets 12 Notes payable Long term liabilties 13 Supplies Current assets 14 Common stock Stockholder's equity 15 Land Fixed assets 16 Bond sinking fund Long term assets 17 Inventory Current assets 18 Prepain insurance Current assets 19 Bonds payable Long term liabilties 20 Income tax payable Current liabilities

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