The following are the major balance sheet classifications.
Current assets (CA) Current liabilities (CL) Long-term investments (LTI) Long-term liabilities (LTL) Property, plant, and equipment (PPE) Owner equity (OE) Intangible assets (IA) Instructions Classify each of the following accounts taken from Roberts Company balance sheet. ______ Accounts payable ______ Accumulated depreciation ______ Accounts receivable ______ Buildings ______ Cash ______ Land ______ Roberts, Capital ______ Long-term debt ______ Patents ______ Supplies ______ Salaries payable ______ Office equipment ______ Inventories ______ Prepaid expenses ______ Investments
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