Classify the Following as an Asset,liability,revenue,or Expense

question 23

Essay

Classify the following as an asset,liability,revenue,or expense.
(1) Unearned revenue
(2) Office equipment
(3) Wages payable
(4) Salary expense
(5) Dividends payable
(6) Art fees earned
(7) Prepaid rent
(8) Accounts receivable
(9) Income tax expense
(10) Office supplies

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Definitions:

Seasonality

The occurrence of variations that are predictable and repeat over a specific period within a year, often seen in industries like retail and agriculture.

Forecast

Predictions about future events or trends based on historical data analysis or current observations.

Seasonal Multiplicative Model

A time series forecasting method that accounts for multiplicative seasonal variations in the data.

Holt-Winters Additive Model

A forecasting technique that extends exponential smoothing to capture seasonality and trend in time series data.