Classify each of the above accounts as a financing activity

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Reference no: EM13482904

The Fair View Golf & Country Club details the following accounts in its financial statements.


(a)

(b)

Accounts payable

_____

_____

Accounts receivable

_____

_____

Equipment

_____

_____

Sales revenue

_____

_____

Service revenue

_____

_____

Inventory

_____

_____

Mortgage payable

_____

_____

Supplies expense

_____

_____

Rent expense

_____

_____

Salaries and wages expense

_____

_____

Instructions

(a) Classify each of the above accounts as an asset (A), liability (L), stockholders" equity (SE), revenue (R), or expense (E) item.

(b) Classify each of the above accounts as a financing activity (F), investing activity (I), or operating activity (O). If you believe a particular account doesn"t fit in any of these activities, explain why.

Reference no: EM13482904

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