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For each of the following accounts, indicate the account type by labeling it as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E). Also give the digit each account number would begin with in the chart of accounts. Use the most detailed account type appropriate. The Land account has been given to you as an example. Digit Account Number Would Begin With Account Account Type Land A- Asset 1 1. Service revenue 2. Dividends 3. Accounts receivable 4. Salaries expense 5. Notes payable 6. Common stock 7. Rent expense For each of the following accounts, indicate the account type by labeling as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E). Also give the digit each account number would begin with in the chart of accounts. Use the most detailed account type appropriate. The Land account has been given to you as an example. Digit Account Number Would Begin With Account Account Type Land A- Asset 1 1. Service revenue 2. Dividends 3. Accounts receivable 4. Salaries expense A - Asset L - Liability SE - Stockholders' equity R- Revenue E - Expense 5. Notes payable 6. Common stock 7. Rent expense For each of the following accounts, indicate the account type by labeling it as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E). Also give the digit each account number would begin with in the chart of accounts. Use the most detailed account type appropriate. The Land account has been given to you as an example. Digit Account Number Would Begin With Account Account Type Land A- Asset 1 1. Service revenue 2. Dividends 3. Accounts receivable 4. Salaries expense 5. Notes payable 6. Common stock 7. Rent expense For each of the following accounts, indicate the account type by labeling it as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E). Also give the digit each account number would begin with in the chart of accounts. Use the most detailed account type appropriate. The Land account has been given to you as an example. Digit Account Number Would Begin With Account Account Type Land A- Asset 1 1. Service revenue 2. Dividends 3. Accounts receivable 1 2 4. Salaries expense 3 5. Notes payable 4 6. Common stock 5 7. Rent expense Suppose Antique Furniture, Inc., has cash of $45,000, receivables of $30,000, and furniture and fixtures totaling $168,000. Antique Furniture, Inc., owes $80,000 on account and has a $145,000 note payable. How much is the stockholders' equity? A. $18,000 B. $243,000 C. $225,000 D. $98,000
