accounts as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E)...
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Accounting
accounts as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E) item. (b) Classify each of the above accounts as a financing activity (F), investing activity (1), or operating activity (O). If you believe a particular account doesn't fit in any of these activities, explain why. E1-4 This information relates to Molina Co. for the year 2014. Retained earnings, January 1, 2014 $67,000 Advertising expense 1,800 Dividends 6,000 Rent expense 10,400 Service revenue 58,000 Utilities expense 2,400 Salaries and wages expense 30,000 Instructions After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2014. Exercises 31 finan Statements Prepare income statement
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