Question
Classify each of these items as an asset (A), liability (L), or owners equity (OE). _____ 1. Salaries payable _____ 2. supplies _____ 3. Owners
Classify each of these items as an asset (A), liability (L), or owners equity (OE).
_____ 1. Salaries payable
_____ 2. supplies
_____ 3. Owners Capital
_____ 4. Trade receivable
_____ 5. Rent expenses
_____ 6. Cash
_____ 7. Machinery
______9. Service revenue
______10. Tax payable
______11. Equipment
_____ 12. Prepaid expenses
Instructions:
Classify each of these items as an asset (A), liability (L), or owners equity (OE).
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Fundamentals of Corporate Finance
Authors: Berk, DeMarzo, Harford
2nd edition
132148234, 978-0132148238
