General Mills is a manufacturer of food products, such as Lucky Charms cereal, Pillsbury crescent rolls,...

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General Mills is a manufacturer of food products, such as Lucky Charms cereal, Pillsbury crescent rolls, and Green Giant vegetables The following items were presented in the companys financial statements For each item, select (1) the type of account and (2) whether it is reported on the income statement (/S) or balance sheet (B/S) Item (1) Type 1. Accounts Payable 2. Common Stock 3. Equipment 5.Notes Payable 6. Cash 7. Retained Earnings 8. Office Expenses 9. Sales Revenue 0 Supplies Asset Expense Liability Revenue Stockholders Equity /s /S /S B/S

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Answer 1

Answer #1

	Item	(1) Type	(2) Statement
1	Accounts Payable	Liability	Balance Sheet
2	Common Stock	Asset	Balance Sheet
3	Equipment	Asset	Balance Sheet
4	Accounts Receivable	Asset	Balance Sheet
5	Notes Payable	Liability	Balance Sheet
6	Cash	Asset	Balance Sheet
7	Retained Earnings	Stockholder's Equity	Balance Sheet
8	Office Expenses	Expense	Income Sheet
9	Sales Revenue	Revenue	Income Sheet
10	Supplies	Asset	Balance Sheet

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Answer 2

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General Mills is a manufacturer of food products, such as Lucky Charms cereal, Pillsbury crescent rolls,...

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