Question

Select the balance sheet category where the items given would typically

Answer 1

Answer and Explanation:

The balance category is shown below:-

Current assets are those assets that are converted into cash within one year for example inventory, accounts receivable, etc.

Fixed assets are those assets that are to be considered as to be long term that is 3 years, 5 years, etc. For example land, building, machinery, etc.

1. Cash equivalents                                        Current assets

2. Bond Investment                                           Investment

3. Land not currently used in operations        Fixed assets

4. Equipment                                                   Plant assets

5. Trade marks                            ( Other assets) Intangible assets

6. Wages payable                                     Current liabilities                                         7. Bonds payable                                         Long term liabilities                      

Short - term note payable                       Current liabilities