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    Classification of accounts

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    A) Place a mark in the appropriate column to indicate the type of account
    B) Place a mark in the appropriate column to indicate on which financial statement that account is reported.

    Financial Statement
    Type of Account: Asset Liability Equity Revenue Expense Income Statement Balance Sheet

    Wages Payable
    Accounts Receivable
    Retained Earnings
    Buildings
    Supplies used
    Inventory
    Sales (for cash)
    Accumulated Depreciation
    Loan from Bank
    Land
    Owners' Invest.
    Supplies
    Sales (on credit)
    Bonds Payable
    Unearned revenue
    Wages Earned by Employees
    Utilities Consumed

    See attached file for complete description of the problem.

    © BrainMass Inc. brainmass.com June 3, 2020, 4:50 pm ad1c9bdddf
    https://brainmass.com/business/accounting/classification-accounts-5727

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    Solution Summary

    The solution classifies accounts according to type (Asset, Liability, Equity, Revenue, Expense) and indicates on which financial statement (Income Statement, Balance Sheet) that account is reported.

    $2.19

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