Question

Which financial statement will each be found on?

a. Current Assets

b. Property, plant & equipment

c. Current liabilities

d. Long-term liabilities

e. Stockholder's equity

f. Balance sheet

1) Cash paid employees for salaries and wages

2) Cash collected from sales customers

3)Bonds Payable

4) Cash

5) Common Stock

6) Equipment

7) Prepaid Insurance

8) Inventory

9) Prepaid Rent

10) Retained Earnings

11) Salaries & Wages Expense

12) Sales

Answer 1

Current Assets	Property,Plant And Equipment	Current Liabalities	Long term Liabalities	Stock Holders Equity	Balance sheet
4)Cash	6)Equipment		3)Bond Payable(Assumed it is paid after 12 months)		5)Common stock
7)Prepaid Insurance		11)Salaries &wage expense		10)Retained earnings
8)Inventory
9)Prepaid Rent

1) Cash paid to employees as salaries and wages & 2)Cash collected from sales are show as net of cash in balance sheet and seperalty show in Profit and loss A/C & Cash flow statement

All prepaid expenses are Current Assets

Salaries and wage expense PAYABLE is treated as Current Liabalities , already paid is taken in profit and loss account

Sales amount does not appears in balance sheet items ,it is taken in profit and loss account