2023 The following are the major balance sheet classifications Current assets CA Long term | Assignments Online

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 

____ Accounts 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