The following are the major balance sheet classifications:
|
Current assets (CA) |
Current liabilities (CL) |
|
Long term investments (LTI) |
Long term liabilities (LTL) |
|
Property, plant, and equipment (PPE) |
Owner’s equity (OE) |
|
Intangible assets (IA) |
|
Match each of the following accounts to its proper balance sheet classification.
|
Accounts payable |
Income tax payable |
|
Accounts receivable |
Investment in long term bonds |
|
Accumulated depreciation |
Land |
|
Building |
Merchandise inventory |
|
Cash |
Patent |
|
Copyrights |
Supplies |