Which of the accounts below would ALL appear on the balance sheet.
A)Utility Expense, Salary Expense, Cash
B)Owner's Capital (beginning), Owner's Drawing, Supplies Expense
C)Accounts Receivable, Accounts Payable, Fee Income
D)Cash, Accounts Payable, Owner's Capital (ending balance)

Question

Quizplus · Accepted Answer

Only assets (e.g. Cash) and liabilities (e.g. Accounts Payable) and equity (e.g. Owner's Capital) accounts appear on the balance sheet. Utility Expense, Salary Expense, Supplies Expense, and Fee Income all affect the income statement and do not directly impact the balance sheet. Similarly, Owner's Drawing also affects equity but its impact is shown separately from Owner's Capital on the balance sheet.

Which of the Accounts Below Would ALL Appear on the Balance