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Classification of Financial Statement Items

Classify each of the following items according to (1) whether it belongs on the income statement (IS) or balance sheet (BS) and (2) whether it is a revenue (R), expense (E), asset (A), liability (L), or stockholders' equity (SE) item.

Item	Appears on the	Classified as
Example: Cash	BS	A
1. Salaries expense
2. Equipment
3. Accounts payable
4. Membership fees earned
5. Capital stock
6. Accounts receivable
7. Buildings
8. Advertising expense
9. Retained earnings

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91623943

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