Question

Indicate which of the following items would be reported in the balance sheet. A. Net income D. Accumulated depreciation G. Interest expense B. Retained earnings E. Wages expense H. Interest payable C. Depreciation expense F. Wages payable I. Sales a. C,

Answer 1

Answer:

B. Retained Earnings

D. Accumulated Depreciation

F. Wages Payable

H. Interest Payable

Explanation:

Retained earnings will be reported in the Equity section of the balance sheet.

Accumulated depreciation will be reported in the Fixed assets section of the balance sheet and will be used to calculate Net Book Value.

Wages and Interest payable are both current liabilities to reflect that the company owes wages and interest payments.