Which of the following would not be reported on the balance sheet quizlet? (2024)

Which of the following would not be reported on the balance sheet quizlet?

Neither Service Revenue nor Unearned Revenue would appear on a balance sheet. The balance sheet financial statement reports all of the business's assets, liabilities, and equity accounts for a specific period (one accounting period).

Which of the following is not reported in the balance sheet?

Expenses are not a part of a Company`s balance sheet.

What would not be reported on a balance sheet?

Off-balance sheet (OBS) assets are assets that don't appear on the balance sheet. OBS assets can be used to shelter financial statements from asset ownership and related debt. Common OBS assets include accounts receivable, leaseback agreements, and operating leases.

Which of the following would not appear on the balance sheet?

Neither Service Revenue nor Unearned Revenue would appear on a balance sheet.

Which of the following would not be accounted on a balance sheet?

The correct answer is C) Sales. Sales is an income statement account that is temporary in nature. It is not included on the balance sheet.

Which of the following accounts would not be reported on the balance sheet quizlet?

Neither Service Revenue nor Unearned Revenue would appear on a balance sheet. The balance sheet financial statement reports all of the business's assets, liabilities, and equity accounts for a specific period (one accounting period).

What reported on a balance sheet?

The balance sheet provides information on a company's resources (assets) and its sources of capital (equity and liabilities/debt). This information helps an analyst assess a company's ability to pay for its near-term operating needs, meet future debt obligations, and make distributions to owners.

What information is reported in a balance sheet quizlet?

What does the balance sheet report? It shows the financial position of a company on a particular date. It reports assets, liabilities, and stockholders' equity of a company.

Which of the following accounts would be reported on the balance sheet?

What Is Included in the Balance Sheet? The balance sheet includes information about a company's assets and liabilities. Depending on the company, this might include short-term assets, such as cash and accounts receivable, or long-term assets such as property, plant, and equipment (PP&E).

Which type of account would not be reported on the income statement?

The correct option is (d) Dividends Expense. A dividend is provided out of the earnings to their investors or stockholders. The dividend has no influence over the income statement.

Which of the following is not included in the asset section of the balance sheet?

Answer and Explanation:

Correct Answer: Option b) Expense. Accounts receivable account has a debit balance and is reported under the current assets section of the balance sheet. Expense accounts have a debit balance; however, they are reported on the income statement, not the balance sheet.

Which of the following is not a part of the balance sheet audit?

Answer. Explanation: Balance sheet audit does not includes routine checks.

Which of the following would not be found in the liabilities section of the balance sheet?

The correct answer is Debtors. Debtors do not constitute current liabilities. Debtors are the persons who owe some amount of money to the firm. ​Debtors are assets and are shown as assets in the balance sheet under the current assets section.

What is a balance sheet quizlet?

Balance Sheet. A statement of a company's assets, liabilities, and owner's equity on a certain date. Capital. Owner's equity or net worth. Current Ratio.

Is income reported on the balance sheet?

On the balance sheet, net income appears in the retained earnings line item. Net income affects how much equity a business reports on the balance sheet.

Are expenses reported on the balance sheet?

Your income statement reports the income and expenses for a specific period of time (i.e. a month, a quarter, or a year), whereas the balance sheet lists your company's assets and liabilities at a specific date.

Which of these is reported first on a balance sheet?

All assets are listed first—usually in order of liquidity¹—followed by the liabilities. A picture is provided of each future economic benefit owned or controlled by the company (its assets) as well as its debts (liabilities).

Which of the following items are reported on the balance sheet as liabilities?

Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.

Which of the following is an asset reported on the balance sheet?

Answer and Explanation:

Assets reported on the balance sheet would include accounts receivable, equipment, and cash.

Which of the following could not be shown on an income statement?

Dividends will not be found on the income statement.

What information is contained in a balance sheet that is not in an income statement?

What's Reported: A balance sheet reports assets, liabilities and equity. An income statement reports revenue and expenses.

Which account does not appear on the balance sheet retained earnings?

Dividends and Utilities expense would not appear on a balance sheet. They are both retained earnings; they are both negative retained earnings to be specific. The balance sheet shows common stock and retained earnings.

Which of the following is not included in assets?

The correct answer is Deposits.

Which of the following categories are included on a balance sheet?

A balance sheet refers to the financial statement that shows the company's assets owned, liabilities, and capital at the year-end.

Which of the following is not a part of the financial reports of the organization?

Trial balance is not part of financial statements.

Prepare Trading and Profit and Loss Account and Balance Sheet from the following trial balance sheet.