Classify each of the following account types by selecting options 1 through 5. fill in the blank with the 5 opitons below equipment accounts payable mortgage accounts receivable brandon jones, capital 1. current assets 2. current liabilities 3. fixed assets 4. long-term liability 5. equity salaries payable supplies unearned revenue land notes payable office building

Explanation:

There are many financial statements of a company in which the financial status of that company is recorded. Assets, Liabilities, Equity, Revenue, Sales, etc are documented. In the given Question, some account types are given and they are required to be matched with the appropriate entries. So they are classified as follows

Current Assets  Office Building

Current Liabilities         Salaries Payable Supplies

Fixed Assets         Land

Long term Liability        Notes Payable

Equity           Unearned Revenue

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