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Indicate whether each of the following items is an asset, liability, or part of stockholders’ equity.(a)Accounts receivableSelect an item  (b)Salaries and wages payableSelect an item  (c)EquipmentSelect an item  (d)SuppliesSelect an item  (e)DividendsSelect an item  (f)Notes payable

Question

Indicate whether each of the following items is an asset, liability, or part of stockholders’ equity.(a)Accounts receivableSelect an item  (b)Salaries and wages payableSelect an item  (c)EquipmentSelect an item  (d)SuppliesSelect an item  (e)DividendsSelect an item  (f)Notes payable

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Solution

(a) Accounts receivable - Asset (b) Salaries and wages payable - Liability (c) Equipment - Asset (d) Supplies - Asset (e) Dividends - Stockholders’ equity (f) Notes payable - Liability

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