Typical balance sheet classifications are as follows.
- CurrentAssets g. Long-Term Liabilities
- Investments andFunds h. Capital Stock
- Property, Plant andEquipment i. Additional Paid-In Capital
- IntangibleAssets j. Retained Earnings
- OtherAssets k. Notes to Financial Statements
- CurrentLiabilities l. Not Reported on Balance Sheet
Indicate by use of the above letters how each of the followingitems would be classified on a balance sheet prepared at December31, 2014. If a contra account, or any amount that is negative oropposite the normal balance, put parentheses around the letterselected. A letter may be used more than once or not at all.
_____ 1. Accrued salaries and wages
_____ 2. Rent revenues for 3 months collected inadvance
_____ 3. Land used as plant site
_____ 4. Equity securities classified astrading
_____ 5. Cash
_____ 6. Accrued interest payable due in 30days
_____ 7. Premium on preferred stock issued
_____ 8. Premium on bonda payable
_____ 9. Petty cash fund
_____ 10. Unamortized discount on bonds payable due 2017
_____ 11. Common stock at par value
_____ 12. Bondindenture covenants
_____ 13. Unamortized premium on bonds payable due in 2018
_____ 14. Allowance for doubtful accounts
_____ 15. Accumulated depreciation—equipment
_____ 16. Reserve for plant expansion
_____ 17. Retired equipment awaiting sale
_____ 18. Inventory held on consignment
_____ 19. Trading securities
_____ 20. Investment in stock of ABC Company (held for influence)
_____ 21. Dividends in arrears on preferred stock
