Which of the following statements is not correct?

Question

Quizplus · Accepted Answer

The Subscriptions Receivable account is not shown in the Stockholders' Equity section of the balance sheet, but is instead shown in the current assets section because it represents money that has been received by the company for stock subscriptions but not yet fulfilled. The other statements are correct, as the Paid-in Capital in Excess of Par Value-Common Stock, Common Stock, and Preferred Stock accounts are all part of the Stockholders' Equity section.

Which of the Following Statements Is Not Correct