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Classifying Balance Sheet Accounts

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Accounts payable Accounts receivable
Cash Notes payable
Cleaning equipment Salaries payable
Cleaning Supplies Common Stock

Instructions
Classify each item as an asset, liability, or stockholders' equity

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Solution Summary

Accounts payable
Accounts receivable
Cash
Notes payable
Cleaning equipment
Salaries payable
Cleaning Supplies
Common Stock

Instructions
Classify each item as an asset, liability, or stockholders' equity

Solution Preview

Accounts payable: A current liability
Accounts receivable: A current asset
Cash: A current ...

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