Final answer:
The accounting heads for Nikea Inc. can be classified into assets, liabilities, incomes, expenses, and equity. Assets include Cash, Accounts Receivable, and Supplies. Liabilities consist of Accounts Payable. Incomes include Dividends Received. Expenses consist of Automobile Expense, Sales Commissions, Supplies Expense, Office Salaries, Miscellaneous Expense, and Rent. Finally, Capital Stock represents equity.
Step-by-step explanation:
The accounting heads for Nikea Inc. can be classified as follows:
- Assets: Cash, Accounts Receivable, Supplies
- Liabilities: Accounts Payable
- Incomes: Dividends Received
- Expenses: Automobile Expense, Sales Commissions, Supplies Expense, Office Salaries, Miscellaneous Expense, Rent
- Equity: Capital Stock
Cash, Accounts Receivable, and Supplies are assets because they represent the resources owned by the company. Accounts Payable is a liability because it represents the company's obligations to pay suppliers. Dividends Received is considered income for the company. Automobile Expense, Sales Commissions, Supplies Expense, Office Salaries, Miscellaneous Expense, and Rent are expenses incurred by the company. Lastly, Capital Stock represents the owner's equity in the company.