2. Transaction Analysis

On a classified balance sheet, what is the net amount of property, plant, and equipment (PP&E) reported as?

Which of the following best describes an unclassified balance sheet?

Which of the following is NOT a balance sheet account?

Which of the following items cannot be found on a firm's balance sheet under current liabilities?

Which of the following is NOT listed on a classified balance sheet?

Which of the following subtotals or totals is typically NOT shown on an unclassified balance sheet?

Which of the following costs are reported as assets on the classified balance sheet of a manufacturer?

In preparing a classified balance sheet using a work sheet, in which column is net income recorded?

On which of the four major financial statements would you find 'Net Plant and Equipment' reported?

In the chart of accounts, the balance sheet accounts are normally listed in which order?

Which section of a classified balance sheet would Austin refer to in order to find a summary of all general ledger accounts classified as fixed assets?

The assets section of a classified balance sheet usually includes the subgroups:

Which of the following are typical categories for assets and liabilities on a classified balance sheet?

Which financial report displays the book (purchase or cost) value of inventory items along with the quantity on hand?

Match each of the following accounts to its proper balance sheet classification. Which of the following is correctly matched?A) Accounts Receivable — Current AssetB) Accumulated Depreciation — Current LiabilityC) Prepaid Insurance — Long-term LiabilityD) Common Stock — Current Asset