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(Solution) - Required Indicate whether each of the following is an asset

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Required: Indicate whether each of the following is an asset (A), liability (L), or a shareholders' equity (E) item.
1. Accounts payable
2. Accounts receivable
3. Bank loan
4. Cash
5. Equipment
6. Insurance expense
7. Loan payable
8. Prepaid insurance
9. Rent expense
10. Repair revenue
11. Share capital
12. Truck operating expense
13. Unused office supplies
14. Dividends


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This question was answered on: Jul 11, 2017

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