BE 229 Classify each of these items as an asset (A), liability (L), or equity (E). _____1.Accounts receivable _____2.Accounts payable _____3.Share capital-ordinary _____4.Supplies ...

BE 229

Classify each of these items as an asset (A), liability (L), or equity (E).

_____1.Accounts receivable

_____2.Accounts payable

_____3.Share capital-ordinary

_____4.Supplies

_____5.Utilities expense

_____6.Cash

_____7.Note payable

_____8.Equipment

BE 230

Identify the impact on the accounting equation of each of the following transactions.

1.Purchase office supplies on account.

2.Paid secretary weekly salary.

3.Purchased office furniture for cash.

4.Received monthly utility bill to be paid at later time.