Consider the following account balances of the Shattuck Law Firm at the end of the year: How many of these accounts would appear in Shattuck's year-end balance sheet?
$$\begin{array} { | l | r | }
\hline \text { Accounts Payable } & \$ 4,400 \
\hline \text { Salaries Expense } & 12,800 \
\hline \text { Cash } & 1,700 \
\hline \text { Common Stock } & 2,400 \
\hline \text { Service Revenue } & 8,300 \
\hline \text { Supplies } & 4,300 \
\hline \text { Retained Earnings } & 1,100 \
\hline \text { Utilities Expense } & 5,000 \
\hline
\end{array}$$
A)Five.
B)Four.
C)Three.

Question

Consider the following account balances of the Shattuck Law Firm at the end of the year: How many of these accounts would appear in Shattuck's year-end balance sheet?
$$\begin{array} { | l | r | } 
\hline \text { Accounts Payable } & \$ 4,400 \
\hline \text { Salaries Expense } & 12,800 \
\hline \text { Cash } & 1,700 \
\hline \text { Common Stock } & 2,400 \
\hline \text { Service Revenue } & 8,300 \
\hline \text { Supplies } & 4,300 \
\hline \text { Retained Earnings } & 1,100 \
\hline \text { Utilities Expense } & 5,000 \
\hline
\end{array}$$
A)Five.
B)Four.
C)Three.

Quizplus · Accepted Answer

Accounts Payable, Cash, Common Stock, Supplies, and Retained Earnings would appear on the balance sheet. Salaries Expense, Service Revenue, and Utilities Expense are income statement items.

Consider the Following Account Balances of the Shattuck Law Firm