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From the following list, choose the accounts that you would find on a Balance Sheet. Accounts...

From the following list, choose the accounts that you would find on a Balance Sheet. Accounts Receivable Cash Current Portion due of Long Term Debt Rent Expense Revenue Equity

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Answer #1

All the assets, liabilities and equity appear on a balance sheet

Hence, from the given items:

Accounts Receivable: Being amount due from debtors is an asset and hence, will appear on the Balance Sheet

Cash: Cash being an asset will appear on the Balance Sheet

Current portion due of Long Term Debt: Being Current Liability will appear on the Balance Sheet

Rent Expense: Rent is an expense and hence is a part of Profit and Loss and will not appear on a Balance Sheet. Had it been outstanding rent, it would have been a liability and would have been a part of Balance Sheet

Revenue: revenue is the amount earned and is a part of Profit and Loss and will not appear on the Balance Sheet

Equity: Equity is a part of Balance Sheet

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