Recognise the correct category in the Classified Balance Sheet for the given accounts: Patents Answer 1Choose...Long-term LiabilitiesCurrent LiabilitiesCurrent AssetsNone of answersIntangible AssetsOwner's EquityEquity Account Receivable Answer 2Choose...Long-term LiabilitiesCurrent LiabilitiesCurrent AssetsNone of answersIntangible AssetsOwner's EquityEquity Note Payable Answer 3Choose...Long-term LiabilitiesCurrent LiabilitiesCurrent AssetsNone of answersIntangible AssetsOwner's EquityEquity Salaries & Wages Payable Answer 4 Long-term LiabilitiesCurrent LiabilitiesCurrent AssetsNone of answersIntangible AssetsOwner's EquityEquity

LO1 - Describe the specific elements of the balance sheet (assets, liabilities, and owners’ equity), and prepare a balance sheet with assets and liabilities properly classified into current and noncurrent categories. A balance sheet contains the following classifications:  (a) Current assets (b) Investments (c) Property, plant, and equipment (d) Intangible assets (e) Other noncurrent assets (f) Current liabilities (g) Long-term debt (h) Other noncurrent liabilities (i) Capital stock (j) Additional paid-in capital (k) Retained earnings Indicate by letter how each of the following accounts would be classified. Place a minus sign (-) for all accounts representing offset or contra balances. Discount on Bonds Payable Stock of Subsidiary Corporation  3.12% Bonds Payable (due in six months) U.S. Treasury Bills Income Taxes Payable Sales Taxes Payable Estimated Claims under Warranties for Service and Replacements Par Value of Stock Issued and Outstanding Unearned Rent Revenue (six months…

8. Discount on Note Payable should be classified as a a. current asset b. contra account to Notes Payable c. part of stockholder's equity d. deferred debt

Advances from customers are classified as a(n) a. b. C. d. Select one: a. current asset. b. current liability. С. expense. d. revenue.

Please answer the following question   Must choose from the following LIST OF ACCOUNTS:   Accounts Payable Accounts Receivable Accumulated Amortization - Copvrights Accumulated Amortization - Customer Database Accumulated Amortization - Customer lists Accumulated Amortization - Development Costs Accumulated Amortization - Franchises Accumulated Amortization - Licences Accumulated Amortization - Patents Accumulated Amortization - Software Accumulated Amortization - Trademarks Accumulated Depreciation Accumulated Impairment Losses - Copyrights Accumulated Impairment Losses - Goodwill Accumulated Impairment Losses - Licences Accumulated Impairment Losses - Patents Accumulated Impairment Losses - Trade Names Accumulated Impairment Losses - Trademark Administrative Expenses Advances to Employees Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bank Loans Buildings Cash Common Shares Cost of Goods Sold Depreciation Expense Equipment Gain on Disposal…

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Please answer the following question   Must choose from the following LIST OF ACCOUNTS:   Accounts Payable Accounts Receivable Accumulated Amortization - Copvrights Accumulated Amortization - Customer Database Accumulated Amortization - Customer lists Accumulated Amortization - Development Costs Accumulated Amortization - Franchises Accumulated Amortization - Licences Accumulated Amortization - Patents Accumulated Amortization - Software Accumulated Amortization - Trademarks Accumulated Depreciation Accumulated Impairment Losses - Copyrights Accumulated Impairment Losses - Goodwill Accumulated Impairment Losses - Licences Accumulated Impairment Losses - Patents Accumulated Impairment Losses - Trade Names Accumulated Impairment Losses - Trademark Administrative Expenses Advances to Employees Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bank Loans Buildings Cash Common Shares Cost of Goods Sold Depreciation Expense Equipment Gain on Disposal…

w.com/takeAssignment/takeAssignmentMain.do?invoker= &takeAssign On the balance sheet, liabilities are generally classified as O legal or nonlegal. O probable or estimated. current or long-term. material or immaterial.

What'sthe journal entry to accrue for amortization expenses?