The following are the major balance sheet classifications. Current assets (CA) Long-term investments (LTI) Property,...
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Accounting
The following are the major balance sheet classifications. Current assets (CA) Long-term investments (LTI) Property, plant, and equipment (PPE) Intangible assets (IA) Current liabilities (CL) Long-term liabilities (LTL) Owner's equity (OE) tructions ssify each of the following accounts taken from Faust Company's balance sheet. . Accumulated depreciation-equipment Buildings Land (in use) Accounts payable Accounts receivable Cash Owner's capital Patents Salaries and wages payable Inventory Stock investments Notes payable (due in 2 years) Supplies Equipment Prepaid expenses (to be sold in 7 months)
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