All i need to know is how to label it like is it a current asset, intangible, current liability etc.
Blue Spruce Corp.
Common stock $2,800Accumulated depreciation—equipment
$2,570 Prepaid rent 165 Accounts payable 1,790 Equipment 7,210 Patents 2,100 Stock investments (long-term) 740Notes payable (long-term)
800 Debt investments (short-term)1,950 Retained earnings 8,105 Income taxes payable 160 Accounts receivable 1,830Cash 1,230 Inventory 1,000
(List current assets in order of liquidity.)
Balance sheet Assets Current Assets _ _ cash _ 1230 _Accounts receivables _ 1 83 0 _ Debt investments 1950 Prepaid rent _ 165 _inventory _ 1000 _ _Total current assets _ _ 6175 _ Long term…