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  3. part a for each account stated above, classify it

Part A For each account stated above, classify it as an asset, liability, owners equity...

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Accounting

Part A

For each account stated above, classify it as an asset, liability, owners equity item, revenue, or expense. In addition, describe which financial statement it belongs to in the worksheet presented below. (64 points)

Part B

First, prepare the following financial statements: Income Statement, Statement of Retained Earnings, and the Balance Sheet. Keep in mind the articulation principle and the accounting equation. Also, make sure that you are preparing a classified balance sheet. In order to complete all financial statements, you must calculate the dividends and retained earnings figures. Show your calculations. (36 points)

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