For Each of the Following Items That Appear on the Balance

question 112

Essay

For each of the following items that appear on the balance sheet,identify each as an asset (A),liability (L),or element of stockholders' equity (SE).For any item that would not appear on the balance sheet,write the letter,N. $$\begin{array} { l l } \text { Retained earnings } & ------\\\text {Accounts payable } & ------\\\text { Selling expense } & ------\\\text { Contributed capital } &------ \\\text { Accounts receivable } & ------\\\text { Income tax expense } &------ \\\text { Income tax expense } & ------\\\text { Dividends} & ------\\\text { Property and equipment } &------ \\\end{array}$$