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problem: The Mill Run Golf and Country Club details following accounts in its financial statements.

 

(a)

(b)

Accounts payable and accrued liabilities

 _____

 _____

Accounts receivable

 _____

 _____

Property, plant, and equipment

 _____

 _____

Food and beverage operations revenue

 _____

 _____

Golf course operations revenue

 _____

 _____

Inventory

 _____

 _____

Long-term debt

 _____

 _____

Office and general expense

 _____

 _____

Professional fees expense

 _____

 _____

Wages and benefits expense

 _____

 _____

Instructions
[A] Classify every of the above accounts as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E) item.

[B] Classify every of above accounts as a financing activity (F), investing activity (I), or operating activity (O). If you believe a particular account does not fit in any of these activities, describe your reasoning.

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M922730

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