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Categorizing into current assets, quick assets, and current liabilities?!?

Categorizing into current assets, quick assets, and current liabilities?!?

fruitinabasket

Here's what I have so far:

Current Asset: CA
Quick Assets: QA
Current Liabilities: CL

Accumulated Depreciation = CL
Prepaid Rent = CA
Note Payable (due in 3 months) = CL
Accounts Receivable = QA
Accounts Payable = CL
Patent = CA
Cash = CA
Supplies = CA
Unearned Revenues = CL
Equipment = CA
Interest Payable = CL
Loan Payable (due in 3 years) = CL

Can someone please check my work, thank you!

Reply 1

TBubblez

Hi,

Cash is a quick asset

and a loan is an asset as well as a liability but if you only have to pay it in three years, for now its an asset.

I hope this still helps

Quick Reply

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