Response to the following :
1. Name and describe the three major categories of balance sheet accounts.
2. Are the following balance sheet items (A) assets, (L) liabilities, or (E) stockholders' equity?
a. Cash dividends payable
b. Mortgage notes payable
c. Investments in stock
d. Cash
e. Land
f. Inventory
g. Unearned rent
h. Marketable securities
i. Patents
j. Capital stock
k. Retained earnings
l. Accounts receivable
m. Taxes payable
n. Accounts payable
o. Organizational costs
p. Prepaid expenses
q. Goodwill
r. Tools
s. Buildings