Question

1. The following are categories of accounts reported in the financial statements: A. Current Assets E. Long-Term Liabilities B. Fixed Assets F. Stockholders’ Equity C. Intangible Assets G. Revenue D. Current Liabilities H. Expense Indicate where each of the following accounts would be reported (classified) in the financial statement categories noted above (categories may be used more than once or not at all). Identify only one category for each account listed below. _______Bonds Payable ________Buildings _______Accrued Liabilities ________Intangibles _______Inventory ________Unearned Rent Revenues _______Accumulated Depreciation ________Retained Earnings

Answer 1

Answer:

E, B, D, C, A, G, H, F

Explanation:

Bonds Payable - Long-term liabilities

Buildings - Fixed assets

Accrued Liabilities - Current liabilities

Intangibles - Intangible assets

Inventory - Current assets

Unearned Rent Revenues - Revenue; advanced paid rentals

Accumulated Depreciation - Expense

Retained Earnings - Stockholder's equity