EX 4-10 Classifying assets

Identify each of the following as (a) a current asset or (b) property, plant, and equipment:
1. Accounts receivable
2. Building
3. Cash
4. Equipment
5. Prepaid Insurance
6. Supplies

Answer:
1. Current Asset
2. Property, plant, and equipment
3. Current Asset
4. Property, plant, and equipment
5. Current Asset
6. Current Asset