Reference no: EM13572514

The Fair View Golf & Country Club details the following accounts in its financial statements.

	(a)	(b)
Accounts payable	_____	_____
Accounts receivable	_____	_____
Equipment	_____	_____
Sales revenue	_____	_____
Service revenue	_____	_____
Inventory	_____	_____
Mortgage payable	_____	_____
Supplies expense	_____	_____
Rent expense	_____	_____
Salaries and wages 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.