Please Answer, will rate! Exercise 1 - Classifying financial statement items: Below is a list of financial statement items. For each item, mark whether is part of assets (A), liabilities (L), shareholders’ cquity (SE), Revenue (R), or expense (E). (A) / (L)/ (SE) / (R)/ (E) Item: (1) Accounts payable (2) Accounts receivable (3) Cash and cash equivalents (4) Common Stock (5) Cost of goods sold (6) Dividends Payable (7) Income taxes (8) Interest expense (9) Inventories (10) Land (11) Net sales (12) Notes payable (13) Notes receivable (14) Property, plant, and equipment (15) Research and development expense (16) Retained earnings (17) Taxes Payable Solution Answer: 1 Accounts Payable (L)Liability 2 Accounts receivable (A) Assets 3 Cash and cash equivalents (A) Assets 4 Common stock (SE) Stock Holder\'s Equity 5 Cost of Goods sold (E)Expanses 6 Dividend payable (L)Liability 7 Income tax (E)Expanses 8 Interest Expanses (E)Expanses 9 Inventories (A) Assets 10 Land (A) Assets 11 Net sales (,R)revenue 12 Notes payable (L)Liability 13 Notes Receivable (A) Assets 14 Property Plant equipment (A) Assets 15 Research and development Expanses (E)Expanses 16 Retained earning (SE) Stock Holder\'s Equity 17 Taxes payable (L)Liability 1 Accounts Payable (L)Liability 2 Accounts receivable (A) Assets 3 Cash and cash equivalents (A) Assets 4 Common stock (SE) Stock Holder\'s Equity 5 Cost of Goods sold (E)Expanses 6 Dividend payable (L)Liability 7 Income tax (E)Expanses 8 Interest Expanses (E)Expanses 9 Inventories (A) Assets 10 Land (A) Assets 11 Net sales (,R)revenue 12 Notes payable (L)Liability 13 Notes Receivable (A) Assets 14 Property Plant equipment (A) Assets 15 Research and development Expanses (E)Expanses 16 Retained earning (SE) Stock Holder\'s Equity 17 Taxes payable (L)Liability.

1. Please Answer, will rate! Exercise 1 - Classifying financial statement items: Below is a list of
financial statement items. For each item, mark whether is part of assets (A), liabilities (L),
shareholders’ cquity (SE), Revenue (R), or expense (E). (A) / (L)/ (SE) / (R)/ (E) Item: (1)
Accounts payable (2) Accounts receivable (3) Cash and cash equivalents (4) Common Stock (5)
Cost of goods sold (6) Dividends Payable (7) Income taxes (8) Interest expense (9) Inventories
(10) Land (11) Net sales (12) Notes payable (13) Notes receivable (14) Property, plant, and
equipment (15) Research and development expense (16) Retained earnings (17) Taxes Payable
Solution
Answer:
1
Accounts Payable
(L)Liability
2
Accounts receivable
(A) Assets
3
Cash and cash equivalents
(A) Assets
4
Common stock
(SE) Stock Holder's Equity
5
Cost of Goods sold
(E)Expanses
6
Dividend payable
(L)Liability
7
Income tax
(E)Expanses
8
Interest Expanses
(E)Expanses

2. 9
Inventories
(A) Assets
10
Land
(A) Assets
11
Net sales
(,R)revenue
12
Notes payable
(L)Liability
13
Notes Receivable
(A) Assets
14
Property Plant equipment
(A) Assets
15
Research and development Expanses
(E)Expanses
16
Retained earning
(SE) Stock Holder's Equity
17
Taxes payable
(L)Liability
1
Accounts Payable
(L)Liability
2
Accounts receivable
(A) Assets
3
Cash and cash equivalents
(A) Assets

3. 4
Common stock
(SE) Stock Holder's Equity
5
Cost of Goods sold
(E)Expanses
6
Dividend payable
(L)Liability
7
Income tax
(E)Expanses
8
Interest Expanses
(E)Expanses
9
Inventories
(A) Assets
10
Land
(A) Assets
11
Net sales
(,R)revenue
12
Notes payable
(L)Liability
13
Notes Receivable
(A) Assets
14
Property Plant equipment
(A) Assets
15
Research and development Expanses
(E)Expanses

4. 16
Retained earning
(SE) Stock Holder's Equity
17
Taxes payable
(L)Liability