Using the legend at the right, determine the category (number) into which you would place each of these items.
|
Item |
Legend |
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|
a. |
Land. |
1 |
Current assets. |
|
b. |
Marketable securities. |
2 |
Long-term investments. |
|
c. |
Notes payable, due in three years. |
3 |
Property, plant, and equipment. |
|
d. |
Taxes withheld from employees. |
4 |
Intangible assets. |
|
e. |
Patents. |
5 |
Current liabilities. |
|
f. |
Retained earnings. |
6 |
Long-term liabilities. |
|
g. |
Unearned subscription fees. |
7 |
Stockholders” equity. |
|
h. |
Bonds of another corporation (a 20-year investment). |
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|
i. |
Notes payable, due in six months. |
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|
j. |
Accumulated depreciation. |