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jeka94
3 years ago
9

Classify each item as an asset, liability, common stock, revenue, or expense. (a) Issuance of ownership shares. select the corre

ct category (b) Land purchased. select the correct category (c) Amounts owed to suppliers. select the correct category (d) Bonds payable. select the correct category (e) Amount earned from selling a product. select the correct category (f) Cost of advertising. select the correct category
Business
1 answer:
Roman55 [17]3 years ago
8 0

Answer:

The classified list of items is as follows:

(a) Issuance of ownership shares - Common stock

(b) Land purchased - Asset

(c) Amounts owed to suppliers - Liability

(d) Bonds payable - Liability

(e) Amount earned from selling a product - Revenue

(f) Cost of advertising - Expense

Hence, all the items are classified as asset, liability, revenue, common stock and expense.

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