Instructions: Identify each of the following accounts as an asset, Liability or Equity. ACCOUNTS Owner's Drawing Note's Payable Office Equipment Mortgage Payable Delivery Equipment Accounts Payable Deposit for Utility DESCRIPTION OF THE ACCOUNTS Cash withdrawn by owner A written promise to pay the supplier Fax machine A loan collateral is given to the creditor Cars purchased for use in the business Money, owed to suppliers Deposit made for telephone service CLASSIFICATION

Instructions: Identify each of the following accounts as an asset, Liability or Equity. ACCOUNTS Owner's Drawing Note's Payable Office Equipment Mortgage Payable Delivery Equipment Accounts Payable Deposit for Utility DESCRIPTION OF THE ACCOUNTS Cash withdrawn by owner A written promise to pay the supplier Fax machine A loan collateral is given to the creditor Cars purchased for use in the business Money, owed to suppliers Deposit made for telephone service CLASSIFICATION

Name: Instructions: Identify each of the following accounts as an asset, Li
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Description: Instructions: Identify each of the following accounts as an asset, Liability or Equity.ACCOUNTSOwner's DrawingNote's PayableOffice EquipmentMortgage PayableDelivery EquipmentAccounts PayableDeposit for UtilityDESCRIPTION OF THE ACCOUNTSCash withdraw

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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