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Place an “X” in the appropriate classification for each balance sheet item listed below.
| Short-Term
Asset |
Long-Term
Asset |
Short-Term
Liability |
Long-Term
Liability |
|
| Payroll taxes due | ||||
| Accounts receivable | ||||
| Land | ||||
| Mortgage payable
(non-current) |
||||
| Buildings | ||||
| Note payable
(due in 24 months) |
||||
| Inventory | ||||
| Accounts payable | ||||
| Cash on hand |
Assignment Exercise 3–1: Assets and Liabilities
Review the chapter text about assets and liabilities and Exhibits 3-1 and 3-2.
Required
- Find three separate references to assets and to liabilities in health care organizations in published news sources such as The Wall Street Journal or Business Week.
- Based on this information, comment on whether the assets and/or liabilities that you have found appear to be current (short-term) or long-term. What led you to believe this?
- If you were the author of these articles, would you have been more specific? If so, why? If not, why not?