Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This question is for my financial accounting class. Identify the following items as a specific element in financial statements by indicating against that item whether

This question is for my financial accounting class.

image text in transcribed

Identify the following items as a specific element in financial statements by indicating against that item whether it is an Asset, Liability, Equity, Revenue, Expense, Dividends: Note: This is a single "matching" style question. Please match each of the 24 items to one of the six available matching choices. Contributed Capital Capital or Common Stock Accounts Payable Accounts Receivable Marketable Securities or Investment in Stocks/Bonds Retained Earnings Salaries paid Sales Cost of Goods Sold Commission to Salespersons 1. Equity Property, Plant, and Equipment 2. Liability Tax Payable 3. Asset Cash 4. Expense Inventories 5. Revenue Bonds Payable 6. Dividends Dividends Paid Additional Paid in Capital Utilities Paid Land Computers Advertising Research and Development Notes Payable Depreciation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Getting Clinical Audit Right To Benefit Patients

Authors: Healthcare Quality

1st Edition

1873543069, 978-1873543061

More Books

Students also viewed these Accounting questions