Classify the items listed (1 to 6) under the following balance sheet headings: A - Assets L
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A - Assets
L - Liabilities
SE - Shareholders’ equity
1. ....... Cash
2. ....... Common stock
3. ....... Equipment
4. ....... Notes payable
5. ....... Retained earnings
6. ....... Accounts receivable
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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