Consider Wal Mart, the world 's largest retailer Classify the following items as an Asset (A), a Liability (L), or an Owners ' Equity (E) for Wal Mart (pp 10 11) a Accounts payable b Common stock c Supplies d Retained earnings e Land f Prepaid expenses g Accounts receivable h Long term debt i Merch...

L a Accounts payable E b Common stock A c Su ...

Consider Wal-Mart, the world's largest retailer. Classify the following items as an Asset (A), a Liability (L),

Question:

Consider Wal-Mart, the world's largest retailer. Classify the following items as an Asset (A), a Liability (L), or an Owners' Equity (E) for Wal-Mart (pp. 10-11):
___ a. b. c. Supplies
___ d. Retained earnings
___ e. Land
___ f. Prepaid expenses
___ g. h. Long-term debt
___ i. Merchandise inventory
___ j. Notes payable
___ k. Expenses payable
___ l. Equipment
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...