Gulfstream Inc. reports the following list of accounts, in alphabetical order: Instructions (a) Classify each account as

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Gulfstream Inc. reports the following list of accounts, in alphabetical order:

Gulfstream Inc. reports the following list of accounts, in alphabetical

Instructions
(a) Classify each account as an asset (A), liability (L), share capital (SC), revenue (R), or expense (E) item. The first one has been done for you as an example.
(b) Identify on which financial statement(s)-income statement (IS), statement of changes in equity (SCE), and/or statement of financial position (SFP)-each account would be reported. Note that there may be more than one correct statement for some of the above. The first one has been done for you as an example.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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