Accounts maintained within the ledger that appear on the statement of financial position include all of the following except
A) Salaries and Wages Expense.
B) Interest Payable.
C) Supplies.
D) Share Capital-Ordinary.

Question

Quizplus · Accepted Answer

Salaries and Wages Expense is an income statement account that reflects expenses incurred during a specific period, whereas the statement of financial position shows a company's financial position at a specific point in time. The other options - Interest Payable, Supplies, and Share Capital-Ordinary - are all balance sheet accounts and would therefore appear on the statement of financial position.

Accounts Maintained Within the Ledger That Appear on the Statement