Question

Identify which of the following items would be reported in the balance sheet. a. Cash d. Wage expense g. Net income b. Sales e. Wages payable h. Inventory c. Long-term debt f. Retained earnings i. Cost of goods sold Items reported in the balance sheet would include: A. a, b, c, e, and i B. a, c, e, f, and h C. c, e, f, h, and i D. c, d, e, h, and i E. b, e, f, h, and i

Answer 1

Answer:

The correct answer is B

Explanation:

Balance sheet is the one of the most vital financial statements which states or represent the financial position of the business at a particular date, and the items that are lists the owner's equity, assets and liabilities at particular time.

In short, the balance sheet is the statement which represent the net worth of the business. So, the items of the balance from the above options are cash, wages payable, long- term debt, inventory and retained earnings.