(Answered) The following are the major balance sheet

Accounting

The following are the major balance sheet classifications.

Current assets (CA)......... Current liabilities (CL)
Long-term investments (LTI)..... Long-term liabilities (LTL)
Property, plant, and equipment (PPE)... Owner's equity (OE)
Intangible assets (IA)

Instructions

Classify each of the following accounts taken from Roberts Company's balance sheet.

______ Accounts payable ______ Accumulated depreciation

______ Accounts receivable ______ Buildings

______ Cash ______ Land

______ Roberts, Capital ______ Long-term debt

______ Patents ______ Supplies

______ Salaries payable ______ Office equipment

______ Inventories ______ Prepaid expenses

______ Investments

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