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Chapter 3 The Balance Sheet and Financial Disclosures

Exercise 3–3

1. f Accrued interest payable 10. a Supplies 2. d Franchise 11. c Machinery 3. -c Accumulated depreciation 12. c Land, in use 4. a Prepaid insurance, for 2014 13. f Unearned revenue 5. g Bonds payable, due in 10 years 14. d Copyrights 6. f Current maturities of long-term debt 15. h Preferred stock 7. f Note payable, due in 3 months 16. b Land, held for speculation 8. b Long-term receivables 17. a Cash equivalents 9. b Bond sinking fund, will be used to 18. f Wages payable retire bonds in 10 years

Exercise 3–8

| | |
|CONE CORPORATION | |
|Balance Sheet (Partial) | |
|At December 31, 2013 | |
| | | | |
| Assets | | | |
|Current assets: | | | |
|Marketable securities |

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