Classify the Following Accounts as Assets (A), Liabilities (L), or Shareholders

question 32

Essay

Classify the following accounts as assets (A), liabilities (L), or shareholders' equity (SE) and whether they are current (C), non-current (NC), or not applicable (N/A).
$$\begin{array} { | l | l | l | } \hline { \text { Account } } & \underline { \mathrm { A } , \mathrm { L } , \mathrm { SE } } & \underline { \mathrm { C } , \mathrm { NC } , \mathrm { N } / \mathrm { A } } \\\hline \text { Accounts Receivable } & & \\\text { Accounts Payable } & & \\\text { Supplies } & & \\\hline \text { Bonds Payable (due in 10 years) } & & \\\hline \begin{array} { l } \text { Investment in A Company } \\\text { (to be sold in 6 months) }\end{array} & & \\\hline \text { Copyright } & & \\\hline \text { Additional Paid-in Capital } & & \\\hline \text { Retained Earnings } & & \\\hline \text { Land } & & \\\hline \text { Wages Payable } & & \\\hline\end{array}$$

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Definitions:

Colonial Past

Refers to the period of history when various European nations established, exploited, and maintained colonies in other regions of the world.

Prosperous Country

A nation characterized by economic growth, high standards of living, and general well-being among its citizens.

Jihad

An Islamic term referring to the religious duty of Muslims; often interpreted as "striving in the way of Allah," which can encompass both spiritual and physical efforts.

McWorld

A term coined by Benjamin Barber to describe the globalizing of culture and commerce where national borders are less significant, leading to a homogenized, global culture.