1 Accumulated Depreciation appears on the a Balance sheet in the long term liabilities section b Income statement as an operating expense c Balance sheet in the property, plant, and equipment section d Balance sheet in the current assets section 2 The first item appearing on the statement of retain...

1 b Income statement as an operating expense As depreciation mea ...

1. Accumulated Depreciation appears on the a. Balance sheet in the long-term liabilities section b. Income statement...

Question:

1. Accumulated Depreciation appears on the
a. in the long-term liabilities section
b. Income statement as an operating expense
c. in the property, plant, and equipment section
d. in the current assets section
2. The first item appearing on the statement of retained earnings is
a. Owner withdrawals
b. The beginning balance of retained earnings
c. Net income
d. The ending balance of retained earnings
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...