117. Assets reported on the balance sheet would include which of the following? Accounts receivable, equipment and cash are all assets on the balance sheet. Accounts payable is a liability, and retained earnings is a component of stockholders' equity on the balance sheet. Sales revenue and supplies expense are revenue and expense, respectively, reported on the income statement. AACSB: Analytic AICPA BB: Resource Management AICPA FN: Reporting Blooms: Understand Difficulty: 1 Easy Learning Objective: 01-02 Describe the purpose; structure; and content of the four basic financial statements. Topic: Balance Sheet 118. Liabilities on the balance sheet would include which of the following? Liabilities include accounts payable, notes payable, and wages payable. Contributed capital and retained earnings are stockholders' equity accounts reported on the balance sheet. Supplies expense is an expense on the income statement. Accounts receivable is an asset on the balance sheet. AACSB: Analytic AICPA BB: Resource Management AICPA FN: Reporting Blooms: Understand
117. Assets reported on the balance sheet would include which of the following? Accounts receivable, equipment and cash are all assets on the balance sheet. Accounts payable is a liability, and retained earnings is a component of stockholders' equity on the balance sheet. Sales revenue and supplies expense are revenue and expense, respectively, reported on the income statement. AACSB: Analytic AICPA BB: Resource Management AICPA FN: Reporting Blooms: Understand Difficulty: 1 Easy Learning Objective: 01-02 Describe the purpose; structure; and content of the four basic financial statements. Topic: Balance Sheet 118. Liabilities on the balance sheet would include which of the following? Liabilities include accounts payable, notes payable, and wages payable. Contributed capital and retained earnings are stockholders' equity accounts reported on the balance sheet. Supplies expense is an expense on the income statement. Accounts receivable is an asset on the balance sheet. AACSB: Analytic AICPA BB: Resource Management AICPA FN: Reporting Blooms: Understand
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