Stockholders equity and revenue

Assignment Help Financial Accounting

Reference no: EM1314663

Classification of items.

The Mill Run Golf & Country Club details the following accounts in its financial statements.

	(a)	(b)
Accounts payable and accrued liabilities	_____	_____
Accounts receivable	_____	_____
Property, plant, and equipment	_____	_____
Food and beverage operations revenue	_____	_____
Golf course operations revenue	_____	_____
Inventory	_____	_____
Long-term debt	_____	_____
Office and general expense	_____	_____
Professional fees expense	_____	_____
Wages and benefits 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: EM1314663

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