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The following numbered items represent a classification scheme for a statement of financial position
The following numbered items represent a classification scheme for a statement of financial position. In the blank next to each statement of financial position's account, write the number indicating to which category it belongs. 1. Intangible assets 2. Property, plant, and equipment 3. Current assets 4. Non-current liabilities 5. Current liabilities 6. Equity Retained Earnings Share capital Long term-Bonds payable Interest payable Income Taxes Payable Accumulated Depreciation Building Patent Inventory Prepaid Insurance
Expert Solution
| Exc.2 | ||
| Category | ||
| Retained earnings | 6. Equity | |
| Share Capital | 6. Equity | |
| Long term bonds payable | 4. Non-Current liabilities | |
| Interest Payable | 5. Current Liabilties | |
| Income Taxes Payable | 5. Current Liabilties | |
| Accumulated depreciation | 2. Property, plant & equipment | |
| Building | 2. Property, plant & equipment | |
| Patent | 1. Intangible assets | |
| Inventory | 3. Current Assets | |
| Prepaid Insurance | 3. Current Assets |
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