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BUS FP3061 McAndrewVanessa Assessment2 Attempt3 part 1

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BUS-FP3061 Fundamental Accounting Principles
Assessment 2, Part 1 Template
Instructions: Using the following designations for balance sheet categories, place the
designator in the column next to the account title.
(CA) - Current Asset
(LTA) - Long-term Asset
(CL) - Current Liability
(LTL) - Long-term Liability
(EQ) - Equity
Account Title
Balance Sheet Category
Accounts Payable
CL
Equipment
LTA
Prepaid rent
CA
Short-term investments
CA
Accounts receivable
CA
Land
LTA
Common stock
EQ
Cash
CA
Accumulated depreciation
LTA
Goodwill
LTA
Bonds payable
LTL
Retained earnings
EQ
Preferred stock
EQ
Mortgage payable
LTL
Salaries payable
CL
Allowance for uncollectibles
CA
Inventories
CA
Patent
LTA
Income tax payable
CL
Short-term security deposits
CA

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BUS-FP3061 – Fundamental Accounting Principles Assessment 2, Part 1 Template Instructions: Using the following designations for balance sheet categories, place the designator in the column next to the account title. • (CA) - Current Asset • (LTA) - Long-term Asset • (CL) - Current Liability ...
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