Question

exxon mobile corporation explores, produces, refines, markets, and supplies crude oil, natural gas, and petroleum products in the United States and around the world. Indicate how the accounts normally should be categorized on a classified balance sheet. common stock notes and loans payable

Answer 1

Answer:

As some of the answers are already in the list I'll focus on the ones that are not.

3. Common Stock

Balance Sheet Classification ⇒ SE

Debit or Credit Balance ⇒ Credit

4. Patents

Balance Sheet Classification ⇒ NCA - Non current asset

Debit or Credit Balance ⇒ Debit

5. Income Taxes Payable

Balance Sheet Classification ⇒ CL

Debit or Credit Balance ⇒ Credit

7. Marketable Securities (short term- Investments)

Balance Sheet Classification ⇒ CA

Debit or Credit Balance ⇒ Debit

8. Property, Plant and Equipment

Balance Sheet Classification ⇒ NCA

Debit or Credit Balance ⇒ Debit

9. Investments ( Long - term)

Balance Sheet Classification ⇒ NCA

Debit or Credit Balance ⇒ Debit