found in many liability accounts is payable. Accounts payable are amounts to be paid in the futu Assets are items of use them to componenty buches, and more ocel al comune accounts on the Ashe accounts receivablerometterenulpment, buildings, and land. Accounts receivable are amount Liabileles are amounts owed obiedinges payable of paperwech do third parties. Typical la stockholders' Equity is the portion of assets the owners own free and clear. Stockholders' equity sepekerred to as shareholders' equity or owners' equity. Typical stockholders' equity accounts inci- Contributed Capital-Amounts pald-in (contributed) by stockholders to purchase comm Retained Earnings - Net Income earned by the company since its incorporation and suppliers. and preferred stock. distributed as dividends. Q1 Assets Identify the accounting equation amounts for PepsiCo Corporation using the Information million = Liabilities $_ million + Stockholders' Equity $ Assets can either be financed with Will the accounting equation hold true for every corporation? (Yes / No / Can't tell) or QZ 23 Why? tock market symbols are shown in parentheses. duction Page 17 9 8 + PepsiCo is primarily financed with (labilities / stockholders' equity). How can you tell? OS on the balance sheet. Cash b. Accounts payable (A/L/SE) (A/L/SE) Accounts receivable (A/L/SE) (A/L/SE) d Land e. Common stock f. Equipment (A/L/SE) (A/L/SE) 8 Notes payable (A/L/SE) h. Building i. Retained earnings (A/L/SE) (A/L/SE) j. Inventory (A/L/SE) Mortgage payable (A/L/SE) Bonds payable (A/L/SE) Circle whether the account is classified as an (A)sset, (Liability, or part of Stockholders' Equity (SE)