Acc280 Financial Accounting: E4-15 The following are the major balance sheet classifications

Acc280 Financial Accounting
E4-15
The following are the major balance sheet classifications.
Current assets (CA)
Current liabilities (CL)
Long-term investments (LTI)
Long-term liabilities (LTL)
Property, plant, and equipment (PPE)
Owner's equity (OE)
Intangible assets (IA)

Instructions
Classify each of the following accounts taken from Roberts Company's balance sheet.
Accounts payable
Accounts receivable
Accumulated depreciation
Buildings
Cash
Roberts, Capital
Patents
Salaries payable
Inventories
Investments
Land
Long-term debt
Supplies
Office equipment
Prepaid expenses
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