All of the following items would appear on the balance sheet except
A) an investment in another company's bonds
B) an investment in marketable securities
C) a realized gain on the sale of a equipment
D) the premium related to a bond liability that is still two years from maturity

Question

Quizplus · Accepted Answer

Realized gains on the sale of equipment are reported in the income statement, not the balance sheet. The balance sheet reflects a company's assets, liabilities, and equity at a specific point in time, whereas the income statement reports revenues and expenses, including gains or losses from sales of assets, over a period.

All of the Following Items Would Appear on the Balance