When preparing the financial statements with a spreadsheet obtained from transaction analysis:
A)assets,liabilities,and revenues are reported on the balance sheet.
B)the balance sheet reports the beginning balance of retained earnings.
C)assets,liabilities,and stockholders' equity are reported on the balance sheet.
D)assets,liabilities,and dividends are reported on the balance sheet.

Question

Quizplus · Accepted Answer

The balance sheet reports assets, liabilities, and stockholders' equity. Revenues are reported on the income statement, not the balance sheet. The beginning balance of retained earnings is reported on the retained earnings statement, not the balance sheet. Dividends are reported on the retained earnings statement and the statement of cash flows, not the balance sheet.

When Preparing the Financial Statements with a Spreadsheet Obtained from Transaction