Activity XXXXXXXXXXClassify Me For you to advance your learning and understanding of the Statement of Financial Position, you have to gradually learn each of its elements and components. Classify the...

Activity 1.1.2. Classify Me

For you to advance your learning and understanding of the Statement of Financial

Position, you have to gradually learn each of its elements and components. Classify

the following accounts whether they are assets, liability, or equity accounts. For asset

and liability accounts, classify whether they are current or non-current.

ACCOUNTS

ELEMENT

CLASSIFICATION

Ex. Accounts Payable

Liability

Current

Accounts Receivable

Cash

Interest Payable

Acain, Capital

Notes Payable

Notes Receivable

Prepaid Rent

Property and Equipment

Raw Materials

Salaries Payable

Supplies

Utilities Payable

Cash in Bank

Finished Goods

Accrued Interest

Bonds Payable

Prepaid Insurance

Unearned Income

Land

Goods in Process

Acain, Personal

Furniture and Fixtures

Accrued Salaries

Income Tax Payable

Intangible Assets

Delivery Truck

Interest Receivable

Sep 01, 2022

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here