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Question 1 The table below reports total assets and total liabilities for the beginning and ending of 2017. Using the accounting equation, calculate the missing
Question 1 The table below reports total assets and total liabilities for the beginning and ending of 2017. Using the accounting equation, calculate the missing numbers: (2 marks) Assets Llabilities Shareholder's Equity January 2019 $51.230 $ $28,690 December 2019 $46,820 $29,680 S Question 2 Review the following accounts, classify each account type (asset, liability, equity, revenue or expense), and identify which financial statement it would be reported on (Balance Sheet, Income Statement or Statement of Retained Earnings): (10 marks) Account Type Financial Statement 1. 2. Salary expense Cash Accounts Payable Sales Revenue 3. 5. Common Shares 6. 7. 8. Service Revenue Long-term Loan Supplies Expense Equipment Dividend Declared 9. 10
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