Ask Experts Questions for FREE Help !
Ask
    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
    Uber Member
    		  
    #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
    New Member
    		  
    #3

    Sep 23, 2009, 09:07 PM

    Income Tax Expense and Interest Income do not belong to the Balance Sheet
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

About balance sheet and ledger accounts [ 2 Answers ]

I have attached the file, Please look at it and see if anyone can solve it Please, I need help as soon as possible. Thank you for your time. My email:

ACCOUNTS!tell me how to solve balance sheet? [ 2 Answers ]

I want to know about balance sheet I am having too much difficulty in balance sheet? Please help me?:):)

What accounts belong on a Trial Balance Worksheet? [ 1 Answers ]

These are the accounts I have used, as you can see my balances don't equal and after checking all the math, I'm convinced I must be using too many accounts. Can you tell me if I should be omitting any of these: Cash - Checking 1262 DR. Cash - Savings 3300 DR. A.R. - Bronson ...

If T-Accounts Balance does this mean balance sheet & P&L work correctly? [ 1 Answers ]

Hi, Just wondering been having some problems with my Balance Sheet balancing, I was wondering if the Trial Balance balances, does that mean that the balance sheet will balance? (given that I do everything correctly? ) Also just a quick question while I'm asking, regarding depreciation in...

View more questions Search