Classify the following accounts as assets (A), liabilities (L), or shareholders' equity (SE) and whether they are current (C), non-current (NC), or not applicable (N/A)
Account
A, L, SE
C,NC,N/A
Merchandise Inventory
Unearned Rent
Prepaid Insurance
Bonds Payable
Investment in B Company
Goodwill
Additional Paid in Capital
Accumulated Other Comprehensive Income
Equipment
Income Tax Payable
What will be an ideal response?
Answer:
Account
A, L, SE
C,NC, N/A
Merchandise Inventory
A
C
Unearned Rent
L
C
Prepaid Insurance
A
C
Bonds Payable
L
NC
Investment in B Company
A
NC
Goodwill
A
NC
Additional Paid in Capital
SE
N/A
Accumulated Other Comprehensive Income
SE
N/A
Equipment
A
NC
Income Tax Payable
L
C
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