50.1K
Verified Solution
Link Copied!
Account Classifications
For the current month, match each of the items to its proper classification, shown below, if the item would not appear use N/A
| Current Assets (CA) | Long-term liabilities (LTL) |
| Current Liabilities (CL) | Property, plant, and equipment (PPE) |
| Intangible Assets (IA) | Stockholders equity (SE) |
| Long-term Investments (LTI) | Not Applicable (NA) |
______ $10,000 due to pay for a TV ad from last month
______ $100,000 investment from stockholders
______ $100,000 mortgage for the existing store
______ $250,000 bill from Apple, Inc. for merchandise
CA $50,000 in cash
______ Brand name and logo
______ Cash registers, counters, and display shelves for store
______ Land for a store to be built next year (not currently in use)
______ Names of staff working a national holiday
______ Six months of fire insurance paid last month
Answer & Explanation
Solved by verified expert
