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littlemoney08
Sep 23, 2009, 12:34 PM
Where do theses accounts belong in a balance sheet? Under liablities, assests or stockholder's equity?

-Income taxes payable (I think current liabilities)
-Income taxes expense
-Interest Income
-Common Stock
morgaine300
Sep 23, 2009, 07:21 PM
Learn what they mean.

Liabilities are things that the company owes to someone else, or has some kind of obligation to.

Assets are things the company owns or has a claim to.

Equity is the net worth of the company, consisting of what the stockholders invested into it (stock) plus the retained earnings.
Addi38
Sep 23, 2009, 09:07 PM
Income Tax Expense and Interest Income do not belong to the Balance Sheet