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Unformatted text preview: E1-1 Urlacher Company performs the following accounting tasks during the year.__C____Analyzing and interpreting information.__I____Classifying economic events.__C____Explaining uses, meaning, and limitations of data.__R____Keeping a systematic chronological diary of events.__R____Measuring events in dollars and cents.__R____Preparing accounting reports.__C____Reporting information in a standard format.___I___Selecting economic activities relevant to the company._R_____Summarizing economic events.Accounting is an information system that identifies, records, and communicates the economicevents of an organization to interested users.InstructionsCategorize the accounting tasks performed by Urlacher as relating to either the identification(I), recording (R), or communication (C) aspects of accountingE1-5 Meredith Cleaners has the following balance sheet items.Accounts payable liability Accounts receivable assetCash asset Notes payable liability Cleaning equipment assets Salaries payable liabilityCleaning supplies assets Common stock stockholders equityInstructionsClassify each item as an asset, liability, or stockholders equity....
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- Spring '09