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Identify each of the following as Asset, Liability, or Equity.

a. Accounts Payable Liability
b. Cash Asset
c. Common Stock Equity
d. Accounts Receivable Asset
e. Rent Expense Liability
f. Service Revenue Equity
g. Office Supplies Asset
h. Dividends Equity
i. Land Equity
j. Salaries Expense Liability

Respuesta :

Answer:

a. Accounts Payable Liability

b. Cash Asset

c. Common Stock Equity

d. Accounts Receivable Asset

e. Rent Expense Equity

f. Service Revenue Equity

g. Office Supplies Asset

h. Dividends Equity

i. Land Assets

j. Salaries Expense Equity

Explanation:

Assets:

The assets will be the property, plant and equipemnt owned by the company or the right or claim it has on third party to provide cash in favor of the company (accounts receivables) or services ( prepaid insurance)

Liabilities:

Will be debt or obligation to do taken from the company in exchange of soemthing

Equity:

The equity will represent the investment of the owner plus the accumualted earning thus, the revenus and income have impact on equity.

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