Chapter 2, Problem 2.2S

(Learning Objective 1: Differentiate between different types of accounts) For each of the following accounts, identify whether that item is an asset, liability, or equity account.

1. a. Bonds payable
2. b. Equipment
3. c. Accounts payable
4. d. Salaries payable
5. e. Common stock
6. f. Retained earnings
7. g. Cash
8. h. Accounts receivable
9. i. Sales revenue
10. j. Inventory