Balance Sheet

Dell · #1 Feb 12, 2006, 06:45 AM

1- The current section of a balance sheet includes which one of the following accounts?

1- Office Expenses
2- Accumulated depreciation
3- Advances from Clients
4- Mortage Payable

Thanks for your help
Dell

LeeAnnMemphis · Feb 12, 2006, 09:33 AM

Office Expenses- that is an Expense, goes on income statement.
Accumulated deprecation- Long term asset
Mortgage payable- that is a long term liability
Advances from Client- that is a current liability, so
3 is the answer.

Dell · Feb 12, 2006, 09:50 AM

Thank you for your help.
Dell

manik chand dey · Dec 15, 2007, 01:41 AM

Advances from clients



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