Which of the following accounts would appear in the Balance Sheet Credit column of a work sheet?
A) Equipment
B) Wages Payable
C) Cash
D) Insurance Expense
E) Sales

Question

Quizplus · Accepted Answer

Wages Payable is a liability account, and liabilities appear on the credit side of the balance sheet. Equipment and Cash are assets, and they appear on the debit side. Insurance Expense and Sales are income statement accounts, with expenses debited and revenues credited, but only the balance (net income or loss) from the income statement affects the equity section of the balance sheet directly.

Which of the Following Accounts Would Appear in the Balance