Indicate whether each of the following items is an asset (A), liability (L), or part of owners equity (OE). ________ (a) Accounts receivable ________ (b) Salaries and wages payable ________ (c) Equipment ________ (d) Supplies ________ (e) Owners capital ________ (f) Notes payable
Chapter 1, Brief Exercises #5
Indicate whether each of the following items is an asset (A), liability (L), or part of owner’s equity (OE).
________ (a) Accounts receivable
________ (b) Salaries and wages payable
________ (c) Equipment
________ (d) Supplies
________ (e) Owner’s capital
________ (f) Notes payable
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Assets are the resources owned by the organization, which is used to produce va…View the full answer
Related Book For 
Accounting Principles
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
ISBN: 978-1118875056