Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner's equity: a. Accounts receivable b. Accounts payable c. Cash d. Fees earned e. Land f. Rent expense g. Supplies

Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner's equity: a. Accounts receivable b. Accounts payable c. Cash d. Fees earned e. Land f. Rent expense g. Supplies

Name: Indicate whether each of the following is identified with (1) an asset
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Description: Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner's equity:a. Accounts receivable b. Accounts payable c. Cash d. Fees earned e. Land f. Rent expense g. Supplies

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter2: Analyzing Transactions: The Accounting Equation

Section: Chapter Questions

Problem 2TF: Accounts Payable is an example of an asset account.

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a. Accounts receivable
b. Accounts payable
c. Cash
d. Fees earned
e. Land
f. Rent expense
g. Supplies