Acc301 Accounting: E2-1 Remington Corporation's balance sheet

Acc301 Accounting

Exercise 2-1:
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)
Common stock (CS)
Retained earnings (RE)
Instructions
Classify each of the following financial statement items taken from Remington Corporation's balance sheet.
___ Accounts payable and accrued liabilities
___Account receivable" ____ Accumulated depreciation
____ Buildings
____ Cash and short-term investments
____ Dividends payable
____ Goodwill
___Income taxes payable" ____ Inventories
____ Investments
____Land
____ Long-term debt
____ Materials and supplies
____ Office equipment and furniture ____ Prepaid expenses

Classify financial statement items by balance sheet classification.
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