The following are a few of the accounts of Hope-Smith Company:
1. Accounts Payable 9. Leasehold Improvements
2. Accounts Receivable 10. Notes Payable (due in three years)
3. Buildings 11. Notes Receivable (due in six months)
4. Cash 12. Prepaid Rent
5. Contributed Capital 13. Retained Earnings
6. Land 14. Supplies
7. Merchandise Inventory 15. Utilities Payable
8. Income Taxes Payable 16. Wages Payable
In the space provided, classify each as it would be reported on a balance sheet. Use the following code:
CA= current asset CL = current liability SE= stockholders’ equity NCA= noncurrent asset NCL=_ noncurrent liability
