Answer & Explanation:
Account Payable: Liability it represent the amount owed to suppliers
Cash: asset it represent the money in possesion ofthe business.
Common Stock: Equity are the shares issued of the company
Account receivable: Assets it represent the right to claim our billed amount to customers.
Rent expense: Equity it decrease the equity, it is an expense account which decreases the period result
Service revenue: Equity it increase the equity, it is the earned amount from the company main activity
Office supplies: Assets it represent the stock supplies used in the office
Dividends: Equity it decrease from the retained earnings of the business
Land: Asset are real state owned by the firm
Salaries Expense: Equity, it is the cost associate with the employee, it decrease the period result.
