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-   -   Where do these accounts belong in a balance sheet? (https://www.askmehelpdesk.com/showthread.php?t=399176)

  • Sep 23, 2009, 12:34 PM
    littlemoney08
    Where do these accounts belong in a balance sheet?
    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
  • Sep 23, 2009, 07:21 PM
    morgaine300

    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.
  • Sep 23, 2009, 09:07 PM
    Addi38

    Income Tax Expense and Interest Income do not belong to the Balance Sheet

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