The following accounts are taken from a balance sheet. 1. Cash 2. Retained earnings 3. Equipment

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following accounts are taken from a balance sheet.
1. Cash
2. Retained earnings
3. Equipment
4. Supplies
5. Accounts payable
Required
Indicate whether each account is an asset (A), liability (L), or part of equity (E).
Transcribed Image Text:The following accounts are taken from a balance sheet. 1. Cash 2. Retained earnings 3. Equipment 4. Supplies 5. Accounts payable Required Indicate whether each account is an asset (A), liability (L), or part of equity (E).
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