Stock investments to be sold in 7 months balance sheet


Asked by wiki @ in Business viewed by 1070 People


Classify each of the following financial statement items taken from Ming Corporation’s balance sheet.

Classify each of the following financial statement Stockholders’ EquityLong-term InvestmentsCurrent AssetsIntangible AssetsLong-term LiabilitiesCurrent LiabilitiesProperty, Plant, and Equipment
Accounts payable
Classify each of the following financial statement Property, Plant, and EquipmentLong-term LiabilitiesStockholders’ EquityIntangible AssetsCurrent AssetsLong-term InvestmentsCurrent Liabilities
Accounts receivable
Classify each of the following financial statement Stockholders’ EquityCurrent AssetsProperty, Plant, and EquipmentLong-term LiabilitiesIntangible AssetsCurrent LiabilitiesLong-term Investments
Accumulated depreciation—equipment
Classify each of the following financial statement Intangible AssetsCurrent AssetsStockholders’ EquityLong-term LiabilitiesProperty, Plant, and EquipmentCurrent LiabilitiesLong-term Investments
Buildings
Classify each of the following financial statement Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant, and EquipmentStockholders’ Equity
Cash
Classify each of the following financial statement Intangible AssetsCurrent AssetsLong-term InvestmentsCurrent LiabilitiesProperty, Plant, and EquipmentLong-term LiabilitiesStockholders’ Equity
Interest payable
Classify each of the following financial statement Current AssetsCurrent LiabilitiesLong-term InvestmentsLong-term LiabilitiesProperty, Plant, and EquipmentStockholders’ EquityIntangible Assets
Goodwill
Classify each of the following financial statement Intangible AssetsCurrent AssetsCurrent LiabilitiesProperty, Plant, and EquipmentLong-term InvestmentsLong-term LiabilitiesStockholders’ Equity
Income taxes payable
Classify each of the following financial statement Intangible AssetsProperty, Plant, and EquipmentLong-term LiabilitiesCurrent AssetsLong-term InvestmentsCurrent LiabilitiesStockholders’ Equity
Inventory
Classify each of the following financial statement Current LiabilitiesStockholders’ EquityIntangible AssetsLong-term LiabilitiesCurrent AssetsLong-term InvestmentsProperty, Plant, and Equipment
Stock investments (to be sold in 7 months)
Classify each of the following financial statement Long-term LiabilitiesLong-term InvestmentsProperty, Plant, and EquipmentCurrent AssetsIntangible AssetsStockholders’ EquityCurrent Liabilities
Land (in use)
Classify each of the following financial statement Long-term InvestmentsCurrent AssetsIntangible AssetsStockholders’ EquityCurrent LiabilitiesLong-term LiabilitiesProperty, Plant, and Equipment
Mortgage payable
Classify each of the following financial statement Current LiabilitiesLong-term InvestmentsLong-term LiabilitiesProperty, Plant, and EquipmentStockholders’ EquityIntangible AssetsCurrent Assets
Supplies
Classify each of the following financial statement Property, Plant, and EquipmentLong-term InvestmentsStockholders’ EquityLong-term LiabilitiesIntangible AssetsCurrent AssetsCurrent Liabilities
Equipment
Classify each of the following financial statement Long-term InvestmentsProperty, Plant, and EquipmentCurrent LiabilitiesLong-term LiabilitiesStockholders’ EquityIntangible AssetsCurrent Assets
Prepaid rent

Answered by wiki @


Answer:

Accounts payable - Current Liabilities

Accounts receivable- Current Assets

Accumulated depreciation—equipment - Property,Plant & Equipment

Buildings - Property,Plant & Equipment

Cash - Current Assets

Interest payable - Current liabilities

Goodwill - Intangible assets

Income taxes payable - Current liabilities

Inventory - Current Assets

Stock investments (to be sold in 7 months) - Current Assets

Land (in use) - Property,Plant & Equipment

Mortgage payable - long term liabilities

Supplies - Current Assets

Equipment - Property,Plant & Equipment

Prepaid rent - Current Assets

Do you know the better answer?

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