The following are the typical classifications used in a balance


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problem #2 is attached accounting problem #2.docx The following are the typical classifications used in a balance sheet: a. b. c. d. e. f. g. h. i. Current assets Investments and funds Property, plant, and equipment Intangible assets Other assets Current liabilities Long-term liabilities Paid-in-capital Retained earnings For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) 1. Allowance for uncollectible accounts 2. Unearned rent revenue 3. Income less dividends, accumulated 4. Patent 5. Common stock

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