1. Business
  2. Accounting
  3. state whether the following are on the balance sheet or...

Question: state whether the following are on the balance sheet or...

Question details

State whether the following are on the balance sheet or the income statement, and state if it is an asset, liability, or stockholders' equity.

Accounts Receivable          250,000                           Accounts Payable              260,000

Capital Surplus                  100,000                           Cash                                190,000

Common Stock                 300,000                           Costs                               640,000

Depreciation Expense          40,000                          Dividends                         97,500

Net Furniture & Fixtures     200,000                           Goodwill                          180,000

Interest Expense               50,000                          Inventory                         175,000      

Land                                305,000                           Line of Credit (used)          200,000      

Long Term Loan               340,000                           Retained Earnings                 ?             

Sales                               980,000                           Tax rate                              21%

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