Allocation of Accounts

Allocation of Accounts

3) Indicate whether the account is an asset (A), liability (L), stockholders equity (SE), revenue (R) or expense (E) account. Also indicate if the account would appear on the Balance Sheet (BS) or Income Statement (IS) or the Statement of Retained Earnings (SRE) The first account has been completed for you. (25 points)ACCOUNTTYPE OF ACCOUNTFINANCIAL STATEMENT1.Land2.Common Stock3.Notes Payable4.Service Revenue5.Telephone Expense6.Dividends7.Accounts Receivable8.Computer Supplies9.Accounts Payable10.Prepaid Expenses


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