identify the following accounts as assets, liabilities or owners equity\naccounts\ncash\naccount…

identify the following accounts as assets, liabilities or owners equity\naccounts\ncash\naccount payable\ncar\ncar note\nfurniture\nowners building\naccount receivable\nstocks\ncredit card\noffice equipment\ncomputer equipment\nmaria capital\ndelivery equipment

identify the following accounts as assets, liabilities or owners equity\naccounts\ncash\naccount payable\ncar\ncar note\nfurniture\nowners building\naccount receivable\nstocks\ncredit card\noffice equipment\ncomputer equipment\nmaria capital\ndelivery equipment

Answer

Brief Explanations:

Assets are resources owned by a business with future economic value. Liabilities are obligations or debts. Owner's equity represents the owner's claim on the business assets. Cash, car, furniture, owner's building, account - receivable, stocks, office equipment, computer equipment, and delivery equipment are resources with economic value, so they are assets. Account payable, car note, and credit card are obligations, so they are liabilities. Maria Capital represents the owner's claim, so it is owner's equity.

Answer:

Cash: Asset Account Payable: Liability Car: Asset Car Note: Liability Furniture: Asset Owner's Building: Asset Account Receivable: Asset Stocks: Asset Credit Card: Liability Office Equipment: Asset Computer Equipment: Asset Maria Capital: Owner's Equity Delivery Equipment: Asset