Answer
Legend:
Current Assets (CA)
Long-term Investments (LTI)
Property, Plant, and Equipment (PPE)
Intangible Assets (IA)
Current Liabilities (CL)
Long-term Liabilities (LTL)
Stockholder's Equity (SE)
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Prepaid Advertising: CA
Equipment: PPE
Trademark: IA
Salaries Payable: CL
Income Taxes Payable: CL
Retained Earnings: CA
Accounts Receivable: CA
Land (for future use): LTI
Patents: IA
Bonds Payable: LTL
Common Stock: SE
Accumulated Depreciation - Equipment: PPE
Unearned Sales Revenue: CL
Inventory: CA
Work Step by Step
Prepaid Advertising: Advertising that has been paid for in advance in exchange for assets.
Equipment: Always included in "Property, Plant, and *Equipment*"
Trademark: Intangible assets are non-physical/intellectual items still classified as assets.
Salaries Payable: Salaries are paid within a business year and are a current liability.
Income Taxes Payable: Income taxes are paid within a business year and are a current liability.
Retained Earnings: Retained Earnings are included in Stockholder's Equity on a balance sheet, and represent the return on shares from the previous year/month ended.
Accounts Receivable: Accounts Receivable is a current asset because money is owed to a business and is paid within the year ended.
Land (for future use): Marked "for future use", this is a long-term investment because the land was purchased for operations exceeding one year.
Patents: Intangible assets are non-physical/intellectual items still classified as assets.
Bonds Payable: Bonds are typically payed out over a long period of time by a business/company to its creditors, which makes this a long-term liability.
Common Stock: Included in Stockholder's Equity on a balance sheet, and is the amount paid out in dividends to shareholders, classifying it as SE.
Accumulated Depreciation - Equipment: Included in PPE under Assets, this amount is deducted from current assets and serves as a "contra-asset".
Unearned Sales Revenue: Revenue that has not been earned means a service has been paid for but has not been fulfilled, making it a current liability.
Inventory: Any inventory owned by a business or company is a current asset because it includes all goods, retail items, etc. that a company has at the end of a business year.
