176. Classified balance sheets commonly include the following categories: Indicate the typical classification of each item listed below by placing the correct balance sheet category in the blank space next to the item. 1. Buildings used in business operations Current assets 2. Accounts Receivable Equity 3. Long-term note payable Plant assets 4. Cash Current liabilities 5. Land held for future plant expansion Current liabilities 6. Common Stock Equity 7. Accounts payable Current liabilities 8. Patents Investments 9. Wages payable Current assets 10. Retained earnings Long-term liabilities 11. Prepaid insurance Current assets 12. Current portion of long-term debt Intangible assets 177. Match the following types of accounts with each of the following transactions. 1. Used to record wages owed, but not paid Accrued revenue 2. Used to record revenue earned but not received Accrued expense 3. Used to record expiration of prepaid insurance Prepaid expense 4. Used to record revenue received in advance Unearned revenue

176. Classified balance sheets commonly include the following categories: Indicate the typical classification of each item listed below by placing the correct balance sheet category in the blank...

176. Classified balance sheets commonly include the following categories:

Indicate the typical classification of each item listed below by placing the correct balance sheet category in the blank space next to the item.

1. Buildings used in business operations	Current assets
2. Accounts Receivable	Equity
3. Long-term note payable	Plant assets
4. Cash	Current liabilities
5. Land held for future plant expansion	Current liabilities
6. Common Stock	Equity
7. Accounts payable	Current liabilities
8. Patents	Investments
9. Wages payable	Current assets
10. Retained earnings	Long-term liabilities
11. Prepaid insurance	Current assets
12. Current portion of long-term debt	Intangible assets

177. Match the following types of accounts with each of the following transactions.

1. Used to record wages owed, but not paid	Accrued revenue
2. Used to record revenue earned but not received	Accrued expense
3. Used to record expiration of prepaid insurance	Prepaid expense
4. Used to record revenue received in advance	Unearned revenue

May 15, 2022