Classify Each of These Items as an Asset (A) Liability $\underline{\quad\quad}$

question 88

Essay

Classify each of these items as an asset (A) liability (L) or owner's equity (OE). $\underline{\quad\quad}$ 1. Accounts receivable
$\underline{\quad\quad}$ 2. Accounts payable
$\underline{\quad\quad}$ 3. Owner's Capital
$\underline{\quad\quad}$ 4. Supplies
$\underline{\quad\quad}$ 5. Utilities expense
$\underline{\quad\quad}$ 6. Cash
$\underline{\quad\quad}$ 7. Notes payable
$\underline{\quad\quad}$ 8. Equipment

---

Definitions:

Western Coast

The land along the western edge of a continent, facing the ocean or sea.

Chaparrals

A biome characterized by dense, spiny shrubs and a Mediterranean climate, with hot, dry summers and cool, wet winters, found in regions like California.

Temperate Deciduous Forest

A biome found in the temperate zone, characterized by trees that lose their leaves annually.

Precipitation

Any form of water, liquid or solid, that falls from the atmosphere and reaches the ground, including rain, snow, sleet, and hail.