Activity 1 Instructions: Identify each of the following accounts as an asset, Liability or Equity. ACCOUNTS DESCRIPTION

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Activity 1 Instructions Identify Each Of The Following Accounts As An Asset Liability Or Equity Accounts Description 1 (28.86 KiB) Viewed 55 times

Activity 1 Instructions: Identify each of the following accounts as an asset, Liability or Equity. ACCOUNTS DESCRIPTION OF THE ACCOUNTS CLASSIFICATION Owner's Drawing Cash withdrawn by owner Note's Payable A written promise to pay the supplier Office Equipment Fax machine Mortgage Payable A loan collateral is given to the creditor Delivery Equipment Cars purchased for use in the business Accounts Payable Money, owed to suppliers Deposit for Utility Deposit made for telephone service