ACC211 Chapter 5

ACC211 Chapter 5 

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Exercise 5-1

	Your answer is correct.

Presented below are a number of balance sheet accounts of Deep Blue Something, Inc. For each of the accounts below, indicate the proper balance sheet classification.

Exercise 5-2 Presented below are the captions of Faulk Company’s balance sheet. Indicate where each of the following items would be classified.

Exercise 5-10

	Your answer is correct.

Norma Smith is the controller of Baylor Corporation and is responsible for the preparation of the year-end financial statements.

Exercise 5-11

	Your answer is correct.

Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2014.