Question

In: Accounting

Identify which type of account each item is classified as:expense//owner equity//assets//revenue//liabilityAccounts ReceivableInventoryDividends...

Identify which type of account each item is classified as: expense//owner equity//assets//revenue//liability

Accounts Receivable

Inventory

Dividends

Portion of rent paid in advance that relates to the following fiscal year

Mortgage Payable

Retained Earnings

Unearned Revenue

Land

Utility

Expenses

Capital Stock

Cost of Goods Sold

Bond Payable

Solutions

Expert Solution

Accounts Receivable Assets
Inventory Assets
Dividends Owner Equity (It will be reduced from Owner Equity as it is not an expense for an company)
Portion of rent paid in advance that relates to the following fiscal year Assets (It will be shown as Prepaid Rent)
Mortgage Payable Liabilities
Retained Earnings Owner Equity
Unearned Revenue Liability
Land Asset
Utility Expenses
Expenses Expenses
Capital Stock Asset
Cost of Goods Sold Expenses
Bond Payable Liabilities

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