Which of the following is the correct date format for the financial statement heading?
A) Balance sheet for the year ended June 30, 2016
B) Income statement at December 31, 2016
C) Balance sheet at December 31, 2016
D) Statement of retained earnings at December 31, 2016

Question

Quizplus · Accepted Answer

The most common format for financial statement headings is to use the date as of the end of the reporting period, which is December 31st in this case. Therefore, choice C is the correct format for a balance sheet as of December 31, 2016. Choice A would be correct for a balance sheet as of June 30, 2016. Choice B would be correct for an income statement for the year ended December 31, 2016. Choice D would be correct for a statement of retained earnings for the year ended December 31, 2016.

Which of the Following Is the Correct Date Format for the Financial