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    littlemoney08's Avatar
    littlemoney08 Posts: 9, Reputation: 1
    New Member
     
    #1

    Sep 23, 2009, 12:34 PM
    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
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    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's Avatar
    Addi38 Posts: 20, Reputation: 1
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    #3

    Sep 23, 2009, 09:07 PM

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

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