Q3-4
Usually,
current assets are listed in a specific order, starting with cash. What is the
objective of this order of listing?
Q3-5Differentiate
between marketable securities and long-term investments. What is the purpose of
owning each?
Q3-6
Differentiate between accounts receivable and accounts
payable.
Q3-15
Classify each of the
following as a (CA) current asset, (NA) noncurrent asset, (CL) current
liability, (NL) noncurrent liability, or (E) equity account. Choose the best or
most frequently used classification.
r. Taxes accrued
s.
Cash
q. Inventories
p. Land
o. Paid-in capital from sale of
treasury stock
n. Marketable securities
m. Unearned interest
l. Mortgage bonds payable
k. Wages payable
j. Capital
i. Prepaid rent
h. Plant
g. Preferred stock
f.
Accounts receivable
e. Retained earnings
d. Accounts payable
c. Unearned subscription revenue
b. Notes receivable
a. Supplies
