Could you tell me if the following Accounts are Assets, Liabilities or Equity?1) Accounts Receiveable2) Smith, Capital3) Wages, Payable4) Cash5) Interest Receivable6) Taxes Payable7) Smith, Drawings8) Retained Earnings9) Buildings10) Land

Could you tell me if the following Accounts are Assets, Liabilities or Equity?1) Accounts Receiveable2) Smith, Capital3) Wages, Payable4) Cash5) Interest Receivable6) Taxes Payable7) Smith, Drawings8) Retained Earnings9) Buildings10) Land

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter6: Analysing And Journalizing Payroll

Section: Chapter Questions

Problem 15QR

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Question

Could you tell me if the following Accounts are Assets, Liabilities or Equity?

1) Accounts Receiveable
2) Smith, Capital
3) Wages, Payable
4) Cash
5) Interest Receivable
6) Taxes Payable

7) Smith, Drawings

8) Retained Earnings
9) Buildings

10) Land

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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