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Asked: 2022-04-13T08:39:43+00:00 In:

Select the balance sheet category where the items given would typically appear. 3. Items 1. Prepaid…

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Select%20the%20balance%20sheet%20category%20where%20the%20items%20given%20would%20typically%20appear.%203.%20Items%201.%20Prepaid...

Select the balance sheet category where the items given would typically appear.
Items Balance Sheet Category
1. Prepaired expenses Current assets
2. Long-term marketable securities Long-term investents
3. Plant building Plant assets
4. Patents Intangible assets
5. Short-term notes payable Current liabilities
6. Long-term notes payable Long-term liabilities
7. Cash equivalent Current assets
8. Machinery Current assets
♦ Relevant knowledge

The balance sheets are a type of financial document that summarises the overall financial position of the company in terms of liabilities, assets, and equity. The total assets must always be at least equal to the total of equity and liabilities. This is built on the accounting equation that says assets = Liabilities + Equity. It is extremely complete as all amounts are entered into the appropriate accounts and can assist the user to make the right decision in their process.

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