Question

Question 5 (60 points)

Answer 1

Answer:

Classify each of the following account types by selecting options 1 through 5.

Explanation:

Question 5 options:

a) Office Building           Fixed Assets

b) Accounts Payable      Current Liabilities

c) Supplies                       Current Assets  

d) Land                             Fixed Assets

e) Equipment                  Fixed Assets  

f) Cash                              Current Assets

g) Salaries Payable         Current Liabilities

h) Brandon Jones, Capital  Equity

i) Accounts Receivable    Current Assets

j) Unearned Revenue   Equity

k) Mortgage                 Long-term Liability

l) Notes Payable           Long-term Liability

 

1. Current Assets

2. Current Liabilities

3. Fixed Assets

4. Long-term Liability

5. Equity