q21 ltem Asset Liability or Shareholders equity 1 Automobile

q2.1)

ltem Asset, Liability, or Shareholders\' equity 1. Automobile 2. Prepaid insurance 3. Common stock 4. Unearned revenue 5. Accounts payable 6. Retained earnings . Accounts receivable 8. Inventory 9. Cash

Solution

Classification :

	Items	Assets, Liability or stockholder\'s equity
1	Automobile	Assets
2	Prepaid insurance	Assets
3	Common stock	Stockholder\'s equity
4	Unearned revenue	Liabilities
5	Account payable	Liabilities
6	retained earnings	Stockholder\'s equity
7	Account receivable	Assets
8	Inventory	Assets
9	Cash	Assets