Instructions: ldentify 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Equipment Mortgage Payable Delivery Equipment Accounts Payable Deposit for Utility DESCRIPTION OF THE ACCOUNTS Cash withdrawn by owner A written promise to pay the supplier Fax machine A loan collateral is given to the creditor Cars purchased for use in the business Money, owed to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: ldentify 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Equipment Mortgage Payable Delivery Equipment Accounts Payable Deposit for Utility DESCRIPTION OF THE ACCOUNTS Cash withdrawn by owner A written promise to pay the supplier Fax machine A loan collateral is given to the creditor Cars purchased for use in the business Money, owed to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: ldentify each of the following accounts as an asset, Li
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Description: Instructions: ldentify 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

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 7QY: The schedule of accounts payable lists each creditors account balance, and the total equals the...

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