Consider the list of accounts given and categorise them as an asset, liability or shareholders' equity item
Question:
Consider the list of accounts given and categorise them as an asset, liability or shareholders' equity item that would appear on the balance sheet or a revenue or expense that would appear on the income statement by ticking the appropriate column.
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Buildings Accounts payable Rent expense Retained profits Sales Accounts receivable Equipment Cost of goods sold Inventory Share capital Provision for employee entitlements Asset Liability Shareholders' equity Revenue Expense
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Related Book For
Financial Accounting An Integrated Approach
ISBN: 9780170349680
6th Edition
Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson
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