Answer Happy

S1-8 Identifying accounts Consider the following accounts: Accounts Payable Cash a. b. C. d. e. f. Common Stock Accounts Receivable Rent Expense Service Revenue Office Supplies Dividends g. h. i. Land j. Salaries Expense Identify each account as Asset (A), Liability (L), or Equity (E). E1-20 Using the accounting equation Compute the missing amount in the accounting equation for each entity from the financial information presented: Assets Liabilities Equity $36,000 Hair Styles S? Style Cuts 90,000 ? Your Basket 101,000 68,000 $ 36,000 48,000 ?

Assignment 1 Do S1-8 and E1-20 Due Date: June 30 Save the spreadsheet as Alyourname $1-8 a. Accounts Payable b. C. d. Cash Common Stock Accounts Receivable e. Rent Expense f. Service Revenue g. Office Supplies h. Dividends i. j. Bonus Points: Up to 5 points Land Salaries Expense L E1-20 Hair Styles Style Cuts Your Basket Assets Liabilities Equity $36,000 $36,000 48,000 90,000 101,000 68,000