Indicate whether each of the following items is an asset (A), liability (L), or part of owners
Question:
Indicate whether each of the following items is an asset (A), liability (L), or part of owner’s equity (OE).
________ (a) Accounts receivable
________ (b) Salaries and wages payable
________ (c) Equipment
________ (d) Supplies
________ (e) Owner’s capital
________ (f) Notes payable
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
Assets are the resources owned by the organization which is used to produce ...View the full answer
Answered By
Fariz N
"Learn, success, and service". Let's work for your progress together now.
I'm a Chartered accountancy finalist and already completed my Under, post-graduation in commerce. I have years of work experience in more than two industries and now looking to share my knowledge.
I like to share my knowledge with society to teach someone and learn myself. if you choose me, you can be assured that you are getting expertise in Accountancy, corporate accounting, and cost accounting.
I would like to have an opportunity to discuss your query and hope to touch with you soon, Have a great day.
Best regards,
Fariz N
Solutioninn Tutor
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Question Posted:
Students also viewed these Business questions
-
Indicate whether each of the following items is an adjustment to the balance per books (BK) or to the balance per bank statement (BS) on a reconciliation that adjusts the bank balance and the bank...
-
Indicate whether each of the following items is available to an S corporation. a. Amortization of organizational expenditures. b. Dividends received deduction. c. Standard deduction. d. Personal...
-
Indicate whether each of the following items is an asset, liability, or part of stockholders equity (a) Accounts receivable (b)Salaries and wages payable (c)Equipment (d)Supplies (e)Owners investment...
-
A portfolio manager owns a bond worth 2,000,000 that will mature in one year. The pound is currently worth $1.65, and the one-year future price is $1.61. If the value of the pound were to fall, the...
-
Over a period of about 9 months, 1,353 women reported the timing of each of their menstrual cycles. For the first cycle reported by each woman, the mean cycle time was 28.86 days, and the standard...
-
The management of Zigby Manufacturing prepared the following balance sheet for March 31. Assets ZIGBY MANUFACTURING Balance Sheet March 31 Liabilities and Equity Liabilities Accounts payable Cash $...
-
What is a preference share and why might a company favour this form of finance?
-
A mine is for sale for $240,000. It is believed the mine will produce a profit of $65,000 the first year, but the profit will decline $5000 a year after that, eventually reaching zero, whereupon the...
-
Lets remind ourselves of all the key professionals, institutiond, and deparmentd we've met through bens journey. Can you fill in the missing information on the cards?
-
Find a non-zero quadratic polynomial that is orthogonal to both p 1 (x) = 1 and p 2 (x) = x under the L 2 inner product on the interval [1, 1].
-
The basic accounting equation is Assets 5 Liabilities 1 Owners equity. Replacing the words in that equation with dollar amounts, what is Apples accounting equation at September 24, 2013?
-
Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2017, Greenes Goods and Solar Enterprises. Instructions...
-
In FTP, assume a client with user name John needs to store a video clip called video2 on the directory /top/videos/general on the server. Show the commands and responses exchanged between the client...
-
The correlation coefficient measures only the strength of the _________________ relationship between variables. In Exercises 912, fill in each blank with the appropriate word or phrase.
-
What is the auditor's common law liability to clients? What is the minimum basis for liability?
-
Two variables have a _________________ relationship if the data tend to cluster around a straight line. In Exercises 912, fill in each blank with the appropriate word or phrase.
-
In general, what elements must be proved by various parties to a legal liability case involving auditors?
-
In a ________________, ordered pairs are plotted on a set of axes. In Exercises 912, fill in each blank with the appropriate word or phrase.
-
What is the primary difference between personalized and socialized power drives?
-
Accounting policies and practices that are most important to the portrayal of the companys financial condition and results, and require managements most difficult, subjective, or complex judgments...
-
Distinguish between revenue expenditures and capital expenditures during useful life.
-
Distinguish between revenue expenditures and capital expenditures during useful life.
-
Distinguish between revenue expenditures and capital expenditures during useful life.
-
Clorox ( CLX ) is paying $ 4 . 8 0 per year in dividends. The Value Line expects CLX to grow their dividend at 7 % . Our expected rate of return is 1 0 % . At what price would we consider Clorox to...
-
Researchers are interested in studying the effect of a new treatment to help increase the memory of senior patients. They hypothesize that this new treatment will be more effective than the...
-
ENG Inc. is considering a project which would require a $ 1 . 8 5 million after - tax investment today ( t = 0 ) . The after - tax cash flows the factory generates will depend on whether the state...
Study smarter with the SolutionInn App