In: Accounting
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
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 |