E5-3

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

1) Unexpired Insurance (a) flowing ASSET 2) business owned in affiliated companies (b) INVESTMENT 3) U virtuallyned subscriptions tax revenue (f) new LIABILITY 4) Advances to suppliers (a) real ASSET 5) Unearned rent revenue (f) CURRENT LIABILITY 6) Preferred Stock (h) heavy(p) STOCK 7) aid on preferred stock (i) PAID-IN great IN EXCESS OF PAR 8) Copyrights (d) nonphysical ASSETS 9) Petty cash breed (a) CURRENT ASSET 10) Sales tax collectable (f) CURRENT LIABILITY 11) accumulated interest on notes due (a) CURRENT ASSET 12) Twenty-year issue of bonds payable that will be on within the next year. (No sinking fund exists, and refunding is not planned) (f) CURRENT LIABILITY 13) Ma! chinery 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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