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Match the Following Balance Sheet Classifications with the Accounts Listed

Question 98

Matching

Match the following balance sheet classifications with the accounts listed below.

Premises:

Responses:

Note Receivable from customer due in 5 years

Intangible Assets

Inventory

Stockholders' Equity

Common Stock

Investments

Interest Receivable

Current Assets

Building

Property Plant and Equipment

Interest Payable

Does not appear on the Balance Sheet

Land

Long-Term Liabilities

Cash

Current Liabilities

Note Payable (Due in 10 Years)

Patent

Interest Expense

Note Receivable due in 60 days

1000 shares of Microsoft Stock

Salary Expense

Accounts Payable

Premises:

Note Receivable from customer due in 5 years

Inventory

Common Stock

Interest Receivable

Building

Interest Payable

Land

Cash

Note Payable (Due in 10 Years)

Patent

Interest Expense

Note Receivable due in 60 days

1000 shares of Microsoft Stock

Salary Expense

Accounts Payable

Responses:

Intangible Assets

Stockholders' Equity

Investments

Current Assets

Property Plant and Equipment

Does not appear on the Balance Sheet

Long-Term Liabilities

Current Liabilities

Correct Answer:

Premises:

Responses:

Note Receivable from customer due in 5 years

Inventory

Common Stock

Interest Receivable

Building

Interest Payable

Land

Cash

Note Payable (Due in 10 Years)

Patent

Interest Expense

Note Receivable due in 60 days

1000 shares of Microsoft Stock

Salary Expense

Accounts Payable