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1. What is the common name and classification (asset, liability, etc.) for each of the following? a. Products to be sold asset b. Amount

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1. What is the common name and classification (asset, liability, etc.) for each of the following? a. Products to be sold asset b. Amount owed to supplier c. Cost of inventory already sold asset d. Rent paid in advance e. Common shares purchased by owners f. Amount owed to employees for wages earned ability g. Amount owed by customers for past purchases h. Amount spent on research and development activities i. Prior years' earnings reinvested in the company j. Increase in value of financial investment k. Customer deposits for services to be provided in the future 1. Registered company logo m. Common stock that has been repurchased by the company

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