Two Questions.. I am a student taking accounting
1) is Supply an asset on a balance sheet?
2) Interest Receivables is that part of the Balance Sheet or is it part of the Income Statement. If is part of the Balance Sheet is it an asset or is it a liability?

Thank you

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Attached is what I had done, I was validating if it was correct. I am new and I wanted to keep it simple. If I put supply in the wrong place then my entire problem is incorrect. Thank you for your valuable input I will learn to communicate in this forum for the future. How can I post an attachment so that you can see what I've done. I part of a big spreadsheet. Roxana

Supply sounds like an asset to me... unless it said supply expense... classify it as an asset see how that works


And Income receivable is an asset and appears on the balance sheet


Under CURRENT ASSETS!!

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Originally Posted by Roxana Castillo

Two Questions..I am a student taking accounting
1) is Supply an asset on a balance sheet?
2) Interest Receivables is that part of the Balance Sheet or is it part of the Income Statement. If is part of the Balance Sheet is it an asset or is it a liability?

Thank you

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Supply should be under current asset... as in Stock... ye m 99% sure...

Interest recievable is definitely a current asset