Question: Assignment #1 Question 1 The table below reports total assets and total liabilities for the beginning and ending of 2017. Using the accounting equation, calculate

Assignment #1 Question 1 The table below reports total assets and total liabilities for the beginning and ending of 2017. Using the accounting equation, calculate the missing numbers: (2 marks) January 2019 December 2019 Assets $51,230 $46,820 Liabilities S29,680 Shareholder's Equity 528,690 S Question 2 Review the following accounts, classify each account type (asset, liability, equity, revenue or expense), and identify which financial statement it would be reported on (Balance Sheet, Income Statement or Statement of Retained Earnings): (10 marks) Account Type Financial Statement 1. Salary expense 2. Cash 3. Accounts Payable 4. Sales Revenue 5. Common Shares 6. Service Revenue 7. Long-term Loan 8. Supplies Expense 9. Equipment 10. Dividend Declared

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