Identify items relating to sections of a balance sheet, Accounting Basics

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Identify items relating to sections of a balance sheet

Response to the following problem:

Identify each of the following items relating to sections of a balance sheet as Current Assets (CA), Property and Equipment (PE), Current Liabilities (CL), Long-Term Liabilities (LTL), or Owner's Equity (OE).

a. Accounts Receivable

b. Building

c. Wages Payable

d. Prepaid Property Taxes

e. Mortgage Payable (current)

f. Supplies

g. Mortgage Payable (due in 3 years)

h. Unearned Fees

i. D. Marlor, Capital

j. Notes Payable (due in 3 months)

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Accounting Basics: Identify items relating to sections of a balance sheet

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Accounting Basics: Identify items relating to sections of a balance sheet

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