Classify each item as an asset, liability, common stock, revenue, or expense. (a) Issuance of ownership shares

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Classify each item as an asset, liability, common stock, revenue, or expense.
(a) Issuance of ownership shares
(b) Land purchased
(c) Amounts owed to suppliers
(d) Bonds payable
(e) Amount earned from selling a product
(f) Cost of advertising

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Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Sep 22, 2011 09:02 AM

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Classify each item as an asset, liability, common stock, revenue, or expense. (a) Issuance of ownership shares

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a Issuance of ownership shares is classified as common stock b La...View the full answer

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