Affiliate Marketing Secrets

Identify where each balance sheet item belongs:
A. Current assets H. Non current liabilities
B. Investments I. Capital stock
C .Property Plant, Equipment J. Add’l paid in capital
D. Other revenues K. Cost of goods sold
E. Intangible assets L. Retained earnings
F. Current liabilities M. Revenues
G. Other assets
Required:
Indicate where the following items would be classified on the balance sheet.
1. Common stock 11. Stock owned in affiliated co.
2. Sinking fund to retire debt 12. Land held for future plant site.
3. Accounts receivable 13. Premium on common stock
4. Inventory 14. Copyrights
5. Prepaid insurance 15. Unearned revenues
6. Accumulated depreciation 16. Accrued interest on note receivable.
7. Bond payable 17. Cash
8. Wages payable 18. Trade accounts payable
9. Machinery no longer in use 19. Current portion of long term debt
10. Allowance for doubtful accounts 20. Goodwill

E5-3B (Classification of Balance Sheet Accounts) Assume that Clark Enterprises uses the following headings on its balance sheet.
(a) Current assets. (f) Current liabilities.
(b) Investments. (g) Long-term liabilities.
(c) Property, plant, and equipment. (h) Capital stock.
(d) Intangible assets. (i) Paid-in capital in excess of par.
(e) Other assets. (j) Retained earnings.
Instructions
Indicate by letter how each of the following usually should be classified. If an item should appear in a note to the financial statements, use the letter “N” to indicate this fact. If an item need not be reported at all on the balance sheet, use the letter “X.”
1. twenty-year issue of bonds payable that will mature within the next year. (No sinking fund exists, and refunding is not planned.).
2. Machinery retired from use and held for sale.
3. Discount on bonds payable. (Assume related companies to bonds payable in No. 1, above.)
4. Accumulated depreciation..
5. Salaries that company budget shows will be paid to employees within the next year.
6. Accrued interest on bonds payable..
7. Fully depreciated machine still in use.
8. Accrued interest on notes receivable
9. Premium on preferred stock
10. Copyrights
11. Unearned subscriptions revenue.
12. Stock owned in affiliated
13. Advances to suppliers.
14. Treasury stock
15. Unearned rent revenue.
16. Sales tax payable
17. Petty cash fund
18. Unexpired insurance.
THIS IS THE ANSWER THAT I GOT
1. Twenty-Year issue of bonds payable that will mature within the next year. (No sinking fund exists, and refunding is not planned)
(f) CURRENT LIABILITY
2. Machinery retired from use and held for sale
(a) CURRENT ASSETS
(e) OTHER ASSETS
3. Discount on bonds payable. (Assume related to bonds payable in No. 12)
(f) CURRENT LIABILITY
4. Accumulated depreciation
(c) PROPERTY, PLANT AND EQUIPMENT
5. Salaries that company budget shows will be paid to employees within the next year.
“X”
.
6. Accrued interest on bonds payable
(f) CURRENT LIABILITY
7. Fully depreciated machine still in use
(c) PROPERTY, PLANT, AND EQUIPMENT OR “N”
.
8. Accrued interest on notes receivable
(a) CURRENT ASSET
9. Premium on preferred stock
(i) PAID-IN CAPITAL IN EXCESS OF PAR
10. Copyrights
(d) INTANGIBLE ASSETS
11. Unearned subscriptions revenue
(f) CURRENT LIABILITY
.
12. Stock owned in affiliated companies
(b) INVESTMENT
13. Advances to suppliers
(a) CURRENT ASSET
.
14. Treasury stock
(a) CURRENT ASSET
(i) PAID-IN CAPITAL IN EXCESS OF PAR
15. Unearned rent revenue
(f) CURRENT LIABILITY
.
16. Sales tax payable
(f) CURRENT LIABILITY
17. Petty Cash fund
(a) CURRENT ASSET
18. Unexpired Insurance
(a) CURRENT ASSET

I’ve begun to write piano sheet music of Green Day song with Sibelius and upload them to the internet for free (which I have read is legal. If it is not please tell me.). I have the ability to make a small amount of money from this (from filesonic.com, affiliate marketing, and donations), but have thought about selling the music for a low price once I have a relatively large collection. How do I get a license for this and about how much are the royalties?

Which of the following information would be on a balance sheet?
6.025% Long-Term Note Payable (only long term portion) 230,000
Accounts Payable 220,000
Accounts Receivable 110,000
Accumulated Depreciation – Building & Equip 109,600
Allowance of Doubtful Accounts 5,800
Building and Equipment 400,000
Capital Stock 2$ par, Authorized 100,00 Shares 60,000
Cash on Hand 44,725
Cash Surrendered Value of Life Insurance Policies 10,800
Current Installment of Long-term Debt (6.025% note) 20,000
Depreciation Expense 19,900
Discontinued Operational Loss 42,000
Dividends Received as Revenue 4,500
Error in Inventory Pricing in 2005 12,500
Goodwill 55,000
Inventories, at FIFO Cost (with market value of 360,000) 332,600
Long-Term Advance to Affiliated Company (Note Receivable) 50,000
Paid-in Capital in Excess Par 155,200
Prepaid 6 Months of Rent 3,600
Real Estate Tax Payable due 3/31/2010 6,625
Retain Earnings – Ending 12/31/09 262,800
Sales 450,000
Sales Return and Allowances 3,100
Savings Account Balance as of 12/31/09 26,000
Trading Marketable Securities (Listed at Cost, with a Market value of 51,800) 58,500
Uncollectible Account Expense 12,000
Unearned Revenue – Current Portion 14,500
~Notes are not required as of 12/31/09