Q10. Balance sheet
What are the items reported on the balance sheet of an entity?
A10.
Examples of items reported on the balance sheet include the following:
(1) Current assets
a. Cash and cash equivalents
b. Marketable securities
c. Accounts receivable
d. Inventory
e. Other current assets
(2) Non-current assets
a. Property, plant and equipment
b. Intangible assets
c. Long-term notes receivable
d. Long-term investments
(3) Total assets
= Current assets + Non-current assets
(4) Current liabilities
a. Accounts payable
b. Notes payable
c. Short-term borrowings
d. Rent payable
e. Salaries payable
f. Income taxes payable
g. Other current liabilities
(5) Non-current liabilities
a. Long-term notes payable
b. Long-term borrowings
c. Bonds payable
(6) Total liabilities
= Current liabilities + Non-current liabilities
(7) Stockholders’ equity
a. Common stock, par value
b. Preferred stock, par value
c. Additional paid-in capital, common stock
d. Additional paid-in capital, preferred stock
e. Retained earnings
(8) Total liabilities and stockholders’ equity
= Total liabilities + Total stockholders’ equity
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