What are the items reported on the balance sheet of an entity?



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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