For each of the following items that appear on the balance sheet, identify each as an asset (A), liability (L), or element of stockholders' equity (SE). For any item that would not appear on the balance sheet, write the letter, N. $$\begin{array} { | l | l | }
\hline \text { Retained earnings } & \
\hline \text { Accounts payable } & \
\hline \text { Selling expense } & \
\hline \text { Common stock } & \
\hline \text { Accounts receivable } & \
\hline \text { Income tax expense } & \
\hline \text { Dividends } & \
\hline \text { Property and equipment } & \
\hline
\end{array}$$

Question

For each of the following items that appear on the balance sheet, identify each as an asset (A), liability (L), or element of stockholders' equity (SE). For any item that would not appear on the balance sheet, write the letter, N. $$\begin{array} { | l | l | } 
\hline \text { Retained earnings } & \
\hline \text { Accounts payable } & \
\hline \text { Selling expense } & \
\hline \text { Common stock } & \
\hline \text { Accounts receivable } & \
\hline \text { Income tax expense } & \
\hline \text { Dividends } & \
\hline \text { Property and equipment } & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of For each of the following items that appear on the balance sheet, identify each as an asset (A), liability (L), or element of stockholders' equity (SE). For any item that would not appear on the balance sheet, write the letter, N. $$\begin{array} { | l | l | } 
\hline \text { Retained earnings } & \
\hline \text { Accounts payable } & \
\hline \text { Selling expense } & \
\hline \text { Common stock } & \
\hline \text { Accounts receivable } & \
\hline \text { Income tax expense } & \
\hline \text { Dividends } & \
\hline \text { Property and equipment } & \
\hline
\end{array}$$

For Each of the Following Items That Appear on the Balance