Classify each of the following as assets or liabilities for shenefield company:
ID: 2350080 • Letter: C
Question
Classify each of the following as assets or liabilities for shenefield company:A. shenfield compay owns its supplies $50,000
B. shenfield compay's customers owe it$40,000
c. shenfield compay has $100,000 inits checking account.
D shenfield compay owes the bank $20,000 on a five- year loan
E. shenfield compay owns abuilding costin $500,000
F. shenfield compay's emplyees have woked all week but have not been paid the $5,000 owed to them.
G. shenfield compay has developed new process that is protectd by a patent costing $16,000
Explanation / Answer
A. Assets B.equity C.liabilities D.liabilities E.assets F.liabilities G.assets