A balance sheet may contain the following major sections: A. Current assets B. Long-term investments C. Property, plant, and equipment D. Intangible assets E. Other assets F. Current liabilities G. Long-term liabilities H. Contributed capital I. Retained earnings J. Accumulated other comprehensive income Required: The following is a list of accounts. Using the letters A through J, indicate in which section of the balance sheet each account would most likely be classified. Then, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet. For all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box otherwise select "no". 1. Investments in Marketable Securities 2. Discount on Bonds Payable (bonds due in 5 years) 3. Additional Paid-in Capital on Common Stock 4. Accounts Receivable 5. Notes Payable (due in 5 years) 6. Patents (net) 7. Unrealized Decrease in Fair Value of Available-for-Sale Securities 8. Preferred Stock 9. Unearned Rent (to be earned within next 6 months) 10. Accrued Pension Cost 11. Trademarks 12. Deficit Account 13. Salaries Payable 14. Land 15. Investment in Ace Company Preferred Stock (to be held for 3 years) Classification Y Y Contra or Deducted (Yes/No) A balance sheet may contain the following major sections: A. Current assets B. Long-term investments C. Property, plant, and equipment D. Intangible assets E. Other assets F. Current liabilities G. Lonig-term liabilities H. Contributed capital 1. Retained earnings 3. Accumulated other comprehensive income Required: The following is a list of accounts. Using the letters A through J, indicate in which section of the balance sheet each account would most likely be classified. Then, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet. For all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selectin "yes" from the second drop down box, otherwise select "no"..

1. A balance sheet may contain the following major sections: A. Current assets B. Long-term
investments C. Property, plant, and equipment D. Intangible assets E. Other assets F. Current
liabilities G. Long-term liabilities H. Contributed capital I. Retained earnings J. Accumulated
other comprehensive income Required: The following is a list of accounts. Using the letters A
through J, indicate in which section of the balance sheet each account would most likely be
classified. Then, indicate if the account is a contra account or an account that would normally be
deducted on the balance sheet. For all accounts, indicate if the account is a contra account or an
account that would normally be deducted on the balance sheet by selecting "yes" from the
second drop down box otherwise select "no". 1. Investments in Marketable Securities 2.
Discount on Bonds Payable (bonds due in 5 years) 3. Additional Paid-in Capital on Common
Stock 4. Accounts Receivable 5. Notes Payable (due in 5 years) 6. Patents (net) 7. Unrealized
Decrease in Fair Value of Available-for-Sale Securities 8. Preferred Stock 9. Unearned Rent (to
be earned within next 6 months) 10. Accrued Pension Cost 11. Trademarks 12. Deficit Account
13. Salaries Payable 14. Land 15. Investment in Ace Company Preferred Stock (to be held for 3
years) Classification Y Y Contra or Deducted (Yes/No) A balance sheet may contain the
following major sections: A. Current assets B. Long-term investments C. Property, plant, and
equipment D. Intangible assets E. Other assets F. Current liabilities G. Lonig-term liabilities H.
Contributed capital 1. Retained earnings 3. Accumulated other comprehensive income Required:
The following is a list of accounts. Using the letters A through J, indicate in which section of the
balance sheet each account would most likely be classified. Then, indicate if the account is a
contra account or an account that would normally be deducted on the balance sheet. For all
accounts, indicate if the account is a contra account or an account that would normally be
deducted on the balance sheet by selectin "yes" from the second drop down box, otherwise select
"no".