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CP 1–5

14 August, 2015 - 17:32

Required: Indicate whether each of the following is an asset (A), liability (L), or a shareholders’ equity (E) item.

  1. Accounts payable
  2. Accounts receivable
  3. Bank loan
  4. Cash
  5. Equipment
  6. Insurance expense
  7. Loan payable
  8. Prepaid insurance
  9. Rent expense
  10. Repair revenue
  11. Share capital
  12. Truck operating expense
  13. Unused office supplies
  14. Dividends