You are presented with the following alphabetical list of

items #8488
You are presented with the following alphabetical list of items

You are presented with the following alphabetical list of items, selected from the financial
statements of Leon's Furniture Limited:

Accounts payable and accrued liabilities.........................Interest income

Accounts receivable.................................................Inventory

Buildings Cash and cash equivalents.............................Land

Issue of common shares............................................Equipment

Cost of sales.........................................................Marketable securities

Customers' deposits................................................Retained earnings, beginning of year

Dividends...........................................................Salaries and commissions

Goodwill............................................................Sales

Income taxes payable.............................................. Dividends payable

Instructions

(a) Identify the normal balance of each account.

(b) Indicate the financial statement-income statement, statement of changes in equity, or

statement of financial position-where each account should be reported and its classification
(e.g., current assets, non-current liabilities, revenues, expenses, etc.).

You are presented with the following alphabetical list of items

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