1. Prepaid insurance 2. Stock owned in affiliated companies 3. Unearned service

Question

1. Prepaid insurance 2. Stock owned in affiliated companies 3. Unearned service revenue. 4. Advances to suppliers 5. Unearned rent revenue 6. Preferred stock 7. Additional paid-in capital on preferred stock 8. Copyrights 9. Petty cash fund Investments Current Liabilities Retained Earnings Equity attributed to noncontrolling interest Paid-in Capital in Excess of Par Not to be Reported Long-term Liabilities Current Assets Property, Plant, and Equipment Intangible Assets Capital Stock 10. Sales taxes payable 11. Accrued interest on notes receivable 12. Twenty-year issue of bonds payable that will mature within the next year. (No sinking fund exists, and refunding is not planned.) 13. Machinery retired from use and held for sale 14. Fully depreciated machine still in use 15. Accrued interest on bonds payable 16. Salaries that company budget shows will be paid to employees within the next year 17. Discount on bonds payable. (Assume related to bonds payable in item 12.) 18. Accumulated Depreciation-Buildings 19. Noncontrolling interest

Explanation / Answer

Solution:

1. Prepaid insurance Current assets 2. Stock owned in affiliated companies Investments 3. Unearned Service Revenue current liabilities 4. Advances to suppliers current assets or Investments 5. Unearned rent revenue current liabilities 6. Preferred stock capital stock 7. Additional paid-in capital on preferred stock paid-in capital in excess of par 8. Copyrights intangible assets 9. Petty cash fund current assets 10. Sales tax payable current liabilities 11. Accrued interest on notes Receivable current assets 12. 20 year issue of bonds Payable long-term liabilities or current liabilities 13. Machinery retired from use and held for sale current assets 14. Fully depreciated machine still in use property plant and equipment 15. Accrued interest on bonds Payable current liabilities 16. Salaries that company budget shows will be paid to employees within the next year not to be reported 17. Discount on bonds Payable current liabilities 18. Accumulated depreciation- building property plant and equipment 19. Noncontrolling interest Equity attributed to noncontrolling interest

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