For the balance sheet please categorize the following as sho

For the balance sheet, please categorize the following as short-term assets, long-term assets, short-term liabilities, long-term liabilities, or owner’s equity:

Cash, accruals, property, plant and equipment, inventory, accounts receivables, paid in capital, retained earnings, notes payable, mortgage, and accounts payable.

Solution

short term assets=cash,inventory,account receivables, accrued revenues

long term assets= property,plant and equipment

short term liabilities= accounts payable,accrued expenses, notes payable (if amount due within one year of the balance sheet date)

long term liabilities= mortgage, notes payable ( if amount not due within one year of the balance sheet date)

owners equity = paid in capital, retained earning