Question

How many of the following items are found on the balance sheet, rather than the income statement? • Accounts receivable • Retained earnings • Income tax expense • Accrued payable • cash • Selling and administrative expenses • Plant and equipment • Operating expense • Marketable securities • Interest expense

Answer 1

Answer: Items are classified as follows:

• Accounts receivable - Balance sheet.

• Retained earnings - Balance sheet.
• Income tax expense - Income statement.
• Accrued payable - Balance sheet.
• Cash - Balance sheet.
• Selling and administrative expenses - Income statement.
• Plant and equipment -  Balance sheet.
• Operating expense - Income statement.
• Marketable securities - Balance sheet.
• Interest expense - Income statement.

Answer 2

Answer:

These are found on the Balance sheet

• Accounts receivable
• Retained Earnings
• Accrued payable
• Cash
• Plant and equipment
• Marketable securities

Explanation: