1. Classify each of the following as an Asset, Liability or Owner's Equity account. Account Asset, Liability or Owner's Equity Cash Bank Loan Office Furniture Bart Simpson, Capital Building Land Mortgage Accounts Payable Supplies Accounts Receivable Lucy VanPelt, Capital

1. Classify each of the following as an Asset, Liability or Owner's Equity account. Account Asset, Liability or Owner's Equity Cash Bank Loan Office Furniture Bart Simpson, Capital Building Land Mortgage Accounts Payable Supplies Accounts Receivable Lucy VanPelt, Capital

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Assignment 1 - Accounting Equation Exercises
1. Classify each of the following as an Asset, Liability or Owner's Equity account.
Account
Asset, Liability or Owner's Equity
Cash
Bank Loan
Office Furniture
Bart Simpson, Capital
Building
Land
Mortgage
Accounts Payable
Supplies
Accounts Receivable
Lucy VanPelt, Capital

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