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3 years ago

Question 5 (60 points)

Business

1 answer:

Natasha2012 [34]3 years ago

5 0

Answer:

Classify each of the following account types by selecting options 1 through 5.

Explanation:

Question 5 options:

a) Office Building Fixed Assets

b) Accounts Payable Current Liabilities

c) Supplies Current Assets

d) Land Fixed Assets

e) Equipment Fixed Assets

f) Cash Current Assets

g) Salaries Payable Current Liabilities

h) Brandon Jones, Capital Equity

i) Accounts Receivable Current Assets

j) Unearned Revenue Equity

k) Mortgage Long-term Liability

l) Notes Payable Long-term Liability

1. Current Assets

2. Current Liabilities

3. Fixed Assets

4. Long-term Liability

5. Equity

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Answer:

Item Classification

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2. Copyright - Intangible assets

3. Supplies - Current assets

4. Unearned service revenue - Current liabilities

5. Prepaid insurance - Current assets

6. Common stock - Contributed capital

7. Rent payable - Current liabilities

8. Accounts receivable - Current assets

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C. Intangible assets - Assets that do not have a physical nature and are expected to be used for more than a year.

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E. Long-term liabilities - Long term obligations due within a period exceeding 12 months.

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