1. Indicate whether the account is an asset (A), liability (L), stockholders' equity (SE), revenue (R) or expense (E) account. Also indicate if the account would appear on the Balance Sheet (BS), Income Statement (IS), or the Statement of Retained Earnings (SRE).

1. Equipment 2. Common Stock 3. Accounts Payable 4. Service Revenue 5. Salary Expense 6. Inventory 7. Accounts Receivable 8. Retained Earnings 9. Notes Payable 10. Prepaid Insurance 11. Dividends 12. Cash

I am mostly confused if expenses are also liabilities.