E5-3

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

1) Unexpired Insurance (a) flowing ASSET 2) inception owned in affiliated companies (b) INVESTMENT 3) U go onned subscriptions tax income (f) new LIABILITY 4) Advances to suppliers (a) ongoing ASSET 5) Unearned rent revenue (f) CURRENT LIABILITY 6) Preferred Stock (h) bang-up STOCK 7) aid on preferred stock (i) PAID-IN pileus IN EXCESS OF PAR 8) Copyrights (d) nonphysical ASSETS 9) Petty notes breed (a) CURRENT ASSET 10) Sales tax collectible (f) CURRENT LIABILITY 11) accumulated interest on notes receivable (a) CURRENT ASSET 12) Twenty-year issue of bonds payable that will bestride within the next year. (No sinking fund exists, a nd refunding is not planned) (f) CURRENT LI! ABILITY 13) Machinery 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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