Which of the following accounts would NOT be found on the Balance Sheet?
A) Cash
B) Drawings
C) Equipment
D) Accounts Payable.

Question

Quizplus · Accepted Answer

Drawings (or owner's drawings) are not found on the balance sheet because they represent withdrawals of capital by the owner from the business, affecting the owner's equity, not the company's assets or liabilities directly. The balance sheet lists assets, liabilities, and equity at a specific point in time.

Which of the Following Accounts Would NOT Be Found on the Balance