Question: Classify each of the following items as asset (A), liability (L), revenue (R), or expense (E). ___ (a) Food inventory _ (b) Rooms revenue _____

Classify each of the following items as asset (A), liability (L), revenue (R), or expense (E).
_______ (a) Food inventory
_______ (b) Rooms revenue
_______ (c) Salaries and wages expense
_______ (d) Property management system
_______ (e) Taxes payable
_______ (f) Rent expense
_______ (g) Beverage revenue
_______ (h) Cash

Step by Step Solution

★★★★★

3.36 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Asset A a Food inventory RevenueR b Rooms re... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

239-B-A-F-S (2463).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

The Biggs Department Store chain has hired an advertising firm to determine the types and amount of advertising it should invest in for its stores. The three types of advertising available are...

Classify each of the following items as an inflow (I) or an outflow (O) of cash, or as neither(N). Item Cash Accounts payable Notes payable Long-term debt Inventory Fixed assets Change (S) +100...

Classify each of the following items as an inflow (I) or an outflow (O) of cash, or as neither (N). Change (S) Item Cash Accounts payable Notes payable Long-term debt Inventory Fixed assets Change...

Classify each of the following items as revenues (R), expenses (EX), or withdrawals (W). _________ 1. Cost of sales (expense) _________ 2. Service revenue _________ 3. Wages expense _________ 4....

Classify each of the following items as asset (A), liability (L), revenue (R), or expense (E). Advertising expense Commission revenue Insurance expense Salaries expense Cash Rent revenue Utilities...

Classify each of the following items as asset (A), liability (L), revenue (R), or expense (E). LO13 _______ (a) Advertising expense _______ (e) Cash _______ (b) Commission revenue _______ (f ) Rent...

Classify each of the following items as asset (A), liability (L), revenue (R), or expense (E). (a) Advertising expense (e) Cash (b) Commission revenue (f) Rent revenue (c) Insurance expense (g)...

Classify each of the following items as assets (A), liabilities (L). Revenue (R) or Expense (E) by putting a X under the appropriate account type. (5x 1 marks=5 Marks) Asset Account name Rent...

I need help feeling out the attached Guidance report. The course start date values that need to be changed will need to be mar-apr column. I will attach chapter 1 and 2 so, you will be able to see...

Pls complete all of the question in the assignment that i attached below. Thx you so much. Ex.1 Basic concepts. Jean's Marine Supply specializes in the sale of boating equipment and accessories....

please answer all question in the file that I attached below! Thank you for helping me. Ex.1 Basic concepts. Jean's Marine Supply specializes in the sale of boating equipment and accessories....

The result of solving the integral x3 dx dy is: | 1 1 A) 16 B) 4 C) D) 64

A parallel-plate capacitor has capacitance Co = 5.00 pF when there is air between the plates. The separation between the plates is l.50 mm. (a) What is the maximum magnitude of charge Q that can be...

5.31 For the circuit in Fig. 5.69, find i x . 4 mA ww ww 12 ww 3 + 6 IQ

Petty, a general contractor, made a series of purchases from Field Lumber Company. Fields records showed a total price of $1,752.21. Petty admitted he owed $1,091.96, but denied liability for the...

Rewrite the program of Programming Exercise 1 in C++, Java, and C#, run them, and compare the results. Data from Programming Exercise 1 Run the code given in Problem 13 (in the Problem Set) on some...

In problem proceed as in Example 5 to find a solution of the given initial-value problem. x 2 y'' - 6y = ln x, y(1) = 1, y'(1) = 3

The fluid at the bottom of a container is a. under less pressure than the fluid at the top b. under the same pressure as the fluid at the top c. under more pressure than the fluid at the top d. any...

Consumer Reports magazine rated different types of refrigerators, including those with bottom freezers, those with top freezers, and those with side freezers. One of the variables they measured was...

Visit a nearby restaurant and list down all the evidences you come in contact with. Make an attempt to understand the specifi c reasons why the marketer has made investments in assembling them.

Identify the various systems of accounting procedures used in the hospitality industry. LO2

Explain the accounting principles used in international operations. LO2

Understand and analyze classified financial statements. LO2

A local shop's weekly sales of ice cream and sunglasses are presented in the table. Ice CreamSunglassesMonday35Tuesday46Wednesday57Thursday79Friday89 The calculation for the correlation, r, for this...

Unipart, a manufacturer of auto parts, is considering two B2B marketplaces to purchase its MRO supplies. Both marketplaces offer a full line of supplies at very similar prices for products and...

Which of the following statements is CORRECT? Answer Other things held constant, the higher a firm's days sales outstanding (DSO), the better its credit department. If a firm that sells on terms of...