The following are the major statement of financial position classifications: Classify each of the following selected acc
Posted: Sun Jun 05, 2022 7:10 pm
The following are the major statement of financial position
classifications:
Classify each of the following selected accounts by its
appropriate classification above:
a.
Accounts payable
b.
Accounts receivable
c.
Accumulated depreciation
d.
Buildings
e.
Cash
f.
Common shares
g.
Current portion of mortgage payable
h.
Deferred revenue
i.
Dividends declared
j.
Income tax payable
k.
Inventory
l.
Land
m.
Long-term investments
n.
Mortgage payable, due in 20 years
o.
Patents
p.
Prepaid insurance
q.
Supplies
classifications:
Classify each of the following selected accounts by its
appropriate classification above:
a.
Accounts payable
b.
Accounts receivable
c.
Accumulated depreciation
d.
Buildings
e.
Cash
f.
Common shares
g.
Current portion of mortgage payable
h.
Deferred revenue
i.
Dividends declared
j.
Income tax payable
k.
Inventory
l.
Land
m.
Long-term investments
n.
Mortgage payable, due in 20 years
o.
Patents
p.
Prepaid insurance
q.
Supplies