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    SamSajasi's Avatar
    SamSajasi Posts: 14, Reputation: 1
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    #1

    Feb 3, 2011, 02:54 PM
    Help Needed for Accounting Homework-Classified Balance Sheet
    Hello,

    I am having trouble with Accounting homework. I hope you can help me out with the correct answer.

    The question is: "Materials & supplies" are classified under which category in the classified balanced sheet?

    Current assets Current liabilities
    Long-term investments Long-term liabilities
    Property, plant, and equipment Common stock
    Intangible assets Retained earnings

    For homework assignments, we get 3 out of 3 chances; however, I already used up 2 of my chances. I think I got the answer wrong by classifying "materials &supplies" as a "current asset" and the second time I put an answer, I can't remember which answer I selected.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 3, 2011, 02:56 PM

    This is a duplicate post and I already answered this post in the Education Homework Help Finance and Accounting Thread.
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