Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner’s equity: a. accounts payable

Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner’s equity:

a. accounts payable
b. cash
c. fees earned
d. land
e. supplies
f. wages expense

Answer:
a. (2) liability
b. (1) asset
c. (3) owner's equity (revenue)
d. (1) asset
e. (1) asset
f. (3) owner's equity (expense)