ACC 313 > Balance sheet classifications > Flashcards

Balance sheet classifications Flashcards

(74 cards)

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1
Q

Preferred stock

A

Stockholders equity (capital stock)

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2
Q

Goodwill

A

Intangible asset

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3
Q

Salaries and wages payable

A

Current liability

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4
Q

Accounts payable

A

Current liability

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5
Q

Buildings

A

PPE

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6
Q

Equity investments (to be sold within the year)

A

Current asset (short term investment)

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7
Q

Current maturity on long-term debt

A

Current liability

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8
Q

Premium on bonds payable

A

Long-term liability

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9
Q

Allowance for doubtful accounts

A

Current asset

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10
Q

Accounts receivable

A

Current asset

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11
Q

Notes payable

A

Current liability

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12
Q

Supplies

A

Current asset (inventory)

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13
Q

Common stock

A

Stockholders equity (capital stock)

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14
Q

Land

A

PPE

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15
Q

Inventory

A

Current asset

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16
Q

Prepaid insurance

A

Current asset (prepaid)

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17
Q

Bonds payable

A

Long-term liability

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18
Q

Income taxes payable

A

Current liability

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19
Q

Stock owned in another company

A

Long-term investment

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20
Q

Unearned service revenue

A

Current liability

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21
Q

Unearned rent revenue

A

Current liability

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22
Q

Advances to suppliers

A

Current asset (prepaid)

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23
Q

Preferred stock

A

Stockholders equity (capital stock)

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24
Q

Additional paid-in capital on preferred stock

A

Stockholders equity

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25
P-I-C on Common stock
Stockholders equity (additional paid-in capital)
26
P-I-C on Preferred stock
Stockholders equity (additional paid-in capital)
27
Premium on Common stock
Stockholders equity (additional paid-in capital)
28
Discount on Common stock
Stockholders equity (additional paid-in capital)
29
Treasury stock
Stockholders equity (capital stock)
30
Stock dividend to distributor
Stockholders equity (capital stock)
31
P-I-C from Stock dividend
Stockholders equity (additional paid-in capital)
32
P-I-C from Treasury stock
Stockholders equity (additional paid-in capital)
33
Copyrights
Intangible asset
34
Petty cash fund
Current asset
35
Sales taxes payable
Current liability
36
Accrued interest on notes receivable
Current asset
37
Twenty year issuance of bonds payable that will mature within the next year
Current liability
38
Machinery retired from use and held for sale
Long-term investment
39
Fully depreciated machine still in use
PPE
40
Accrued interest on bonds payable
Current liability
41
Discounts on bonds payable at maturity this year
Current liability
42
Accumulated depreciation
PPE
43
Notes receivable
Current asset
44
Paid in capital in access of (above) par- common stock
Stockholders equity (additional paid-in capital)
45
Pension obligation
Current liability
46
Construction in progress
Long-term investment
47
Land held for future plant site
Long-term investment
48
Investment in plant
Long-term investment
49
Bonds sinking fund
Long-term investment
50
Investment in cash surrender of life insurance
Long-term investment
51
Investment in patent
Long-term investment
52
Land held as investment
Long-term investment
53
Restricted cash
Other asset
54
Patent
Intangible asset
55
Trademark
Intangible asset
56
Customer lists
Intangible asset
57
Non-compete agreement
Intangible asset
58
Receivables from executive officer
Other asset
59
Retained earnings
Stockholders equity
60
Appropriated/Reserve for plant expansion
Stockholders equity (retained earnings)
61
Appropriated/Reserve for contingencies
Stockholders equity (retained earnings)
62
Non-controlling interest
Stockholders equity
63
Minority interest
Stockholders equity (non-controlling interest)
64
Investments in bonds
Long-term investment
65
Rent receivable
Current asset
66
Rent income
Not shown on balance
67
Interest payable
Current liability
68
Treasury stock (Cost method)
Stockholders equity
69
Depreciation expense: equipment
Not shown on balance sheet
70
Accumulated depreciation: equipment
PPE
71
Prior period adjustment
Not shown on balance sheet
72
Accumulated other comprehensive income
Stockholders equity
73
Unappropriated retained earnings
Retained earnings
74
Dividend income
Not shown on balance sheet
ACC 313
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