Balance Sheet Classification
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Created by:
sstovall86 on April 29, 2012
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35 terms
Terms | Definitions |
|---|---|
 Current Liabilities | Accrued salaris and wages |
| Current Liabilities | Rental revenue for 3 months collected in advance |
| PP &E | Land used as plant site |
| Current Asset | Equity securities classified as trading |
| Current Liabilities | Accrued interest on a note payable |
| Stockholders Equity | Premium on preferred stock issued |
| Notes on Financial Statements | Dividends in arrears on preferred stock |
| Current Asset | Petty cash fund |
| Long Term Liabilities | Discount on bonds payable due 2010 (CA) |
| Stockholders Equity | Common stock at par value |
| Notes on Financial Statements | Bond indenture covenants |
| Long Term Liabilities | Premium on bonds payable due in 2013 |
| Current Asset | Allowance for doubtful accounts (CA) |
| PP &E | Accumulated depreciation (CA) |
| PP &E | Natural resource timberlands |
| Stockholders Equity | Deficit (no net income earned since beginning of company) (CA) |
| Intangible Asset | Goodwill arising from business purchase |
| Current Liabilities | 90 day notes payable |
| Other long term asset | Investments in bonds of anothercompany, will be held to 2010 maturity |
| Other long term asset | land held for speculation |
| Not reported on balance sheet | Death of company president |
| Current Liabilities | Current maturity of bonds payable |
| Other long term asset | Investment in subsidary ; no plans to sell in near future |
| Current Liabilities | Trade accounts payable |
| Stockholders Equity | Preferred stock ($10 par) |
| Current Asset | Prepaid rent for next 12 months |
| Intangible Asset | Copyright |
| Intangible Asset | Accumulated depreciation , patents |
| Stockholders Equity | Accumulated other comprehensive income |
| Stockholders Equity | earnings not distributed to shareholders |
| Current Asset | Accrued interest on note receivable |
| PP &E | Fully depreciated machinery still in use |
| Long Term Liabilities | Bond payable (will be paid with sinking fund in ; due in 2007) |
| Current Asset | Advance to suppliers |
| Stockholders Equity | treasury stock (CA) |
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