Answer:
1. Accounts Receivable ⇒ Current assets
Accounts receivable are a current asset account because they represent money owed to the business that will be paid within one period.
2. Note Payable (due in 2025) ⇒ Long term Liabilities
Payables are liabilities and if those liabilities exceed a period then they are termed long term liabilities like the Note payable above.
3. Cash ⇒ Current Asset
Cash is also a current asset because it will most likely be spent within a period and it is the most liquid current asset there is.
4. Dividends ⇒ Equity
Dividends are considered equity because they are part of the profits being shared to shareholders who are considered the Equity providers of the firm.
5. Consulting Fee ⇒ Revenue
Consulting fee is a service revenue because it represents money paid to a company or person for services performed.
