The Fair View Golf & Country Club details the following accounts in its financial statements.

(a) (b)

Accounts payable _____ _____ Accounts receivable _____ _____ Equipment _____ _____ Sales revenue _____ _____ Service revenue _____ _____ Inventory _____ _____ Mortgage payable _____ _____ Supplies expense _____ _____ Rent expense _____ _____ Salaries and wages expense _____ _____ Instructions

(a) Classify each of the above accounts as an asset (A), liability (L), stockholders’ equity

(SE), revenue (R), or expense (E) item.

(b) Classify each of the above accounts as a financing activity (F), investing activity (I), or operating activity (O). If you believe a particular account doesn’t fit in any of these activities, explain why.