Question: For each transaction, indicate whether each account would be classified as (a) An asset, (b) A liability, (c) Stockholders equity to be reported in the

For each transaction, indicate whether each account would be classified as
(a) An asset,
(b) A liability,
(c) Stockholders€™ equity to be reported in the balance sheet;
(d) A revenue
(e) An expense to be reported in the income statement; or
(f) A dividend to be reported in the statement of stockholders€™equity.

Account Classifications Accounts Related Transactions Cost of rent. 2. 3. 4. 5. Rent expense Interest revenueInterest earned on savings account. Dividends Land Accounts payable Amounts owed to suppliers. Cash pavments to stockholders. Land used for operations.

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