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25 points 11. Identify if the following accounts were classified as balance sheet (BS), income statement (IS), current asset (CA), non-current asset (NCA), current liability
25 points 11. Identify if the following accounts were classified as balance sheet (BS), income statement (IS), current asset (CA), non-current asset (NCA), current liability (CL). non-current liability (NCL), or stockholder's equity (SE). BS IS CA operating expense land and building O accruals furniture & fixtures marketable securities taxes interest expense cost of goods sold notes payable inventories sales revenue common stock cash on hand accumulated depreciation accounts payable depreciation expense O O 20 points 41. Identify if the following transactions are showing an increase or decrease in the asset or expense (IA/IE or DA/DE), liability (IL or DL). capital (C/DC): IA/IE DA/DE IL Initial Investment buy asset on credit service rendered on cash payment of expense borrowed from creditors service rendered on credit personal withdrawal of owner collect from service rendered paid the NP to creditor Issued NP to creditor from AP
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