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Classify the following items as an asset (A), a liability (L), or stockholders' equity (S) for Target Corporation, a large retailer:
a. Land
b. Accrued expenses payable
c. Supplies
d. Equipment
e. Notes payable
f. ​Long-term debt
g. Retained earnings
h. Prepaid expenses
i. Accounts payable
j. Accounts receivable
k. Merchandise inventory
l. Common stock

Sagot :

The classification of an asset, liabilities, or stockholder equity is as follows:

  • Land = Asset
  • Accrued expenses payable = Liabilities
  • Supplies = Asset
  • Equipment = Asset
  • Note payable = Liabilities
  • Long-term debt = Liabilities
  • Retained Earnings = Stockholder equity
  • Prepaid expenses = Asset
  • Account payable = Liabilities
  • Merchandise inventory = Asset
  • Common stock = Stockholder equity

Learn more about the asset here: brainly.com/question/14404094

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