E 3.02 – Typical classifications in the balance sheet
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
For each of the following balance sheet items use the letters to indicate the classification category.
For each of the following balance sheet items use the letters to indicate the classification category.
They ask you to find the effect on 3 ratios (current, acid-test, debt to equity) of 11 items such as issuing bonds, a note, pay accts payable, etc.
Given the information on the trial balance, determine the adjusted and unadjusted trial balance for the prepaid rent and rent expense.
Your numbers will vary.