Match the following types of accounts to their balance sheet classification: _________ Accounts Payable. A. Current Asset
Question:
Match the following types of accounts to their balance sheet classification:
_________ Accounts Payable. A. Current Asset
_________ Cash. B. Current Liability
_________ Equipment. C. Long-Term Asset
_________ Inventory. D. Long-Term Liability
_________ Bank Loan E. Owner Equity.
_________ Accounts Receivable.
_________ Retained Earnings.
_________ Taxes Payable.
_________ Initial Capital Accounts.
_________ Common Stock.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Accounting and Financial Analysis in the Hospitality Industry
ISBN: 978-0132458665
1st edition
Authors: Johnathan Hales
Question Posted: