1. The following accounts were taken from the financial statements of Callahan Company.
|
Salaries payable |
Investment in real estate |
|
Service revenue |
Delivery truck |
|
Interest payable |
Accumulated depreciation |
|
Goodwill |
Depreciation expense |
|
Short term investments |
R. Callahan, Capital |
|
Mortgage note payable due in 3 years |
Unearned revenue |
Match each of the following accounts to its proper balance sheet classification,
shown below. If the item would not appear on a balance sheet, use “NA.”
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)