Classify each of the following either as Asset, Liability, Equity, Revenue, or

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements
Section: Chapter Questions
Problem 2E: List the classification of each of the following accounts as A (asset), L (liability), OE (owners...
icon
Related questions
Topic Video
Question
100%
Classify each of the following either as Asset, Liability, Equity, Revenue, or Expense.
TRUCTION: Classify each of the following either as Asset, Liability, Equity, Revenue or Expense. Write your answer
a the SEPARATE PAPER
1. Bad Debt Expense
2. Dividend Revenue
3. Common Stock
4. Land
5. Furniture and Fixtures
6. Accounts Payable
7. Retained Earnings
8. Mechandise Inventory
9. Accrued Liabilities
10. Service Revenue
11. Utility Expense
12. Bonds Payable
13. Salaries Expense
14. Interest Revenue
15.Notes Payable
Transcribed Image Text:TRUCTION: Classify each of the following either as Asset, Liability, Equity, Revenue or Expense. Write your answer a the SEPARATE PAPER 1. Bad Debt Expense 2. Dividend Revenue 3. Common Stock 4. Land 5. Furniture and Fixtures 6. Accounts Payable 7. Retained Earnings 8. Mechandise Inventory 9. Accrued Liabilities 10. Service Revenue 11. Utility Expense 12. Bonds Payable 13. Salaries Expense 14. Interest Revenue 15.Notes Payable
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
PAYROLL ACCT., 2019 ED.(LL)-TEXT
PAYROLL ACCT., 2019 ED.(LL)-TEXT
Accounting
ISBN:
9781337619783
Author:
BIEG
Publisher:
CENGAGE L
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage