Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3)
Question:
Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner’s equity:
a. accounts payable
b. cash
c. fees earned
d. land
e. supplies
f. wages expense
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a 2 Accounts payable is identified as a liability since i...View the full answer
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Related Book For 
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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