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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
S1-8 (Learning Objective 1: Explain accounting language) Consider Wal-Mart, a large retailer. Classify the following items as an Asset (A), a Liability (L), or Stockholders’ Equity (S) for Wal-Mart:
Â
a.            Accounts payable
b.           Common stock
c.            Supplies
d.           Retained earnings
e.            Land
f.             Prepaid expenses
Â
g.            Accounts receivable
h.           Long-term debt
i.             Merchandise inventory
j.             Notes payable
k.           Accrued expenses payable
l. Â Â Â Â Â Â Â Â Â Â Â Equipment
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