Asked by Earlicia Sexton on May 12, 2024
Verified
Which of the following does not appear on the right hand side of the balance sheet?
A) Current Liabilities
B) Accounts Receivable
C) Retained Earnings
D) Long Term Debt
E) Total Equity
Balance Sheet
A balance sheet that presents a firm's financial position, detailing its assets, liabilities, and owners' equity at a particular moment.
Current Liabilities
Short-term financial obligations of a company that are due to be paid within one year.
Retained Earnings
The portion of net income which is retained by the corporation rather than distributed to its owners as dividends.
- Identify and classify items on the balance sheet, particularly current liabilities, assets, and equity.
Verified Answer
JA
Jovanna AcevesMay 18, 2024
Final Answer :
B
Explanation :
Accounts Receivable typically appears on the left hand side of the balance sheet as an asset. Current Liabilities, Long Term Debt, Retained Earnings, and Total Equity all appear on the right hand side of the balance sheet as liabilities and equity.
Learning Objectives
- Identify and classify items on the balance sheet, particularly current liabilities, assets, and equity.