Question

The following items were drawn from a company’s accounting records: (1) Accounts receivable (2) Accounts payable (3) Cash paid to purchase land (4) Supplies (5) Supplies expense (6) Cash collected for service to be provided in the future (7) Unearned revenue (8) Prepaid rent (9) Earned Revenue (10) Accrued salaries expense (11) Common stock (12) Dividends (13) Cash paid for prepaid rent (14) Retained earnings.

Which of the items listed above appear on the balance sheet?

Answer 1

Answer:

The following that are drawn from a company's accounting records and also appear on the balance sheet are:

• Accounts receivable
• Supplies
• Unearned revenue
• Prepaid rent
• Common stock
• Retained earnings

All other items don't appear on the balance sheet which are:

• Accounts payable
• Cash paid to purchase land
• Supplies expense
• Cash collected for service to be provided in the future
• Earned Revenue
• Accrued salaries expense
• Dividends
• Cash paid for prepaid rent

Answer 2

Answer:

Explanation:

A balance sheet is a statement of the financial position of a business that lists the assets, liabilities, and owner's equity at a particular point in time.

The following items appear on the balance sheet:

Accounts receivable

Supplies

Unearned revenue

Prepaid rent

Common stock

Retained earnings

All other items don't appear on the balance sheet :

Accounts payable

Cash paid to purchase land

Supplies expense

Cash collected for service to be provided in the future

Earned Revenue

Accrued salaries expense

Dividends

Cash paid for prepaid rent