EA Week1 Assignment ACCT301

EA Week1 Assignment ACCT301 - operating activity (O). If...

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EA ACCT 301 Week 1 01/06/2010 1. E1-3 Accounts payable and accrued liabilities L F Accounts receivable A F Property, plant, and equipment A I Food and beverage operations revenue A F Golf course operations revenue A F Inventory A I Long-term debt E F Office and general expense E O Professional fees expense E O Wages and benefit expense L O (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
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Unformatted text preview: operating activity (O). If you believe a particular account doesnt fit in any of these activities, explain why. 2. E1-13 ASSETS LIABILITIES AND STOCKHOLDERS EQUITY Cash $18,500 Accounts payable $4,000 Supplies $9,500 Equipment $40,000 Common stock 40,000 Dividents $10,000 Retained earnings 34,000 Total assets $78,000 Total Liabilities and stockholders equity $78,000...
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This note was uploaded on 01/06/2010 for the course ACCT 301 taught by Professor Na during the Spring '09 term at University of Phoenix.

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EA Week1 Assignment ACCT301 - operating activity (O). If...

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