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Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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EXERCISE 4-8

Purpose: (L.O. 6) This exercise will allow you to practice identifying the classification of accounts on a classified balance sheet.

A list of the balance sheet classifications appears below along with a list of account titles for the Steve Martin Corporation.

images

Accounts

_______ 1. Accounts Receivable
_______ 2. Wages and Salaries Payable
_______ 3. Notes Payable (due in 4 years)
_______ 4. Office Equipment
_______ 5. Bank Loan Payable (due in 6 months)
_______ 6. Patent
_______ 7. Notes Payable (due in 4 mos.)
_______ 8. Bonds Payable (due in 20 years)
_______ 9. Notes Receivable (due in 3 years)
_______ 10. Mortgages Payable (due in 5 years)
_______ 11. Salaries and Wages Expense
_______ 12. Prepaid Insurance
_______ 13. Delivery Trucks
_______ 14. Copyright
_______ 15. Cash
_______ 16. Utilities Expense
_______ 17. Depreciation Expense
_______ 18. Rent Revenue Received in Advance (to be earned in 6 mos.)
_______ 19. Interest Receivable
_______ 20. Rent Revenue
_______ 21. Common Stock
_______ 22. Building
_______ 23. Prepaid Advertising
_______ 24. Prepaid Property Taxes
_______ 25. Investment in Orlando Aviation Authority Bonds
_______ 26. Property Taxes Payable
_______ 27. Investment in Stock of ABC Corporation
_______ 28. Land
_______ 29. Parking Lots & Driveways
_______ 30. Trademark
_______ 31. ...

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