Reference no: EM132475266

Question 1: What are The following are the major statement of financial position classifications:

1.Current assets

2.Property, plant, and equipment

3.Other non-current assets

4.Current liabilities

5.Non-current liabilities

6.Shareholders' equity

Question 2: Classify each of the following selected accounts by its appropriate classification above:

a) Accounts receivable

b) Accumulated depreciation

c) Bank indebtedness

D)Bank loan payable, due in three years

E) Cash

F) Common shares

G) Equipment

H) Goodwill

I) Inventory

J) Notes receivable, due in six months

K) Prepaid rent

L) Retained earnings

M) Salaries payable

N) Supplies

O) Unearned revenue

P) Prepaid insurance

Q) Accounts payable