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Diehl Cleaners has the following balance sheet items. Classify each item as an asset, liability, or owner’s equity. Accounts payable Cash Equipment Supplies Accounts receivable Notes payable Salaries and wages payable Owner’s capital
Diehl Cleaners has the following balance sheet items. Classify each item as an asset, liability, or owner’s equity. Accounts payable Cash Equipment Supplies Accounts receivable Notes payable Salaries and wages payable Owner’s capital
Assetsare Cash, Equipment, Supplies, Accounts Receivable ,Liabilities are Accounts Payable, Notes Payable, Salaries and Wages Payable Owner's Equity are Owner's CapitalAssets areresourcesowned or controlled by the company. In this case, Diehl Cleaners has the following assets Cash - Represents the liquid funds available for the business. Equipment - Refers to the physical assets, like machinery or tools, used in the cleaning operations. Supplies - Represents inventory or materials used in the cleaning process.Accounts ReceivableDenotesthe amounts owed to the company by customers for services provided but not yet collected. Liabilities are obligations or debts owed by the company to external parties. Diehl Cleaners' liabilities include: Accounts Payable - Represents outstanding amounts owed to suppliers or vendors.Notes Payable Indicates any loans or borrowed funds. Salaries and Wages Payable - Reflects unpaid salaries and wages toemployees. Owner's Equity, in this case, is represented by "Owner's Capital," which signifies the owner's investment in the business.For more Question onAssetsbrainly.com/question/30764400#SPJ3...