Discuss classifications of assets and liabilities

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Reference no: EM131519370

Question: Account classifications include assets, liabilities, stockholders' equity, dividends, revenues, and expenses.

Required: For each transaction, indicate whether the related account would be classified as an

(a) asset,

(b) liability, or

(d) revenue or

(e) expense to be reported in the income statement; or an

(f) dividend to be reported in the statement of stockholders' equity.

Reference no: EM131519370

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