The balance sheet (Points : 3) is a list of all accounts showing the title and balance of each account. is used as an aid in preparing the trial balance and income statement. is for a period of time. shows that assets equal liabilities plus owner's equity.

Question and answer

Question

Asked 5/15/2014 12:08:00 AM

Updated 5/16/2014 7:13:03 AM

1 Answer/Comment

This conversation has been flagged as incorrect.

Flagged by debnjerry [5/16/2014 7:13:03 AM]

Get an answer

Search for an answer or ask Weegy.

Original conversation

User: The balance sheet (Points : 3) is a list of all accounts showing the title and balance of each account. is used as an aid in preparing the trial balance and income statement. is for a period of time. shows that assets equal liabilities plus owner's equity.

Weegy: The balance sheet is a list of all accounts showing the title and balance of each account.
shylo|Points 563|

Question

Asked 5/15/2014 12:08:00 AM

Updated 5/16/2014 7:13:03 AM

1 Answer/Comment

This conversation has been flagged as incorrect.

Flagged by debnjerry [5/16/2014 7:13:03 AM]

New answers

Rating

debnjerry

The balance sheet shows that assets equal liabilities plus owner's equity.

Added 5/16/2014 7:13:00 AM

This answer has been confirmed as correct and helpful.

Comments

There are no comments.

Add an answer or comment

Questions asked by the same visitor

The financial statement that shows the state of the firm's assets, liabilities, and owner's equity on a specific date is called a(n) (Points : 3) balance sheet. statement of operations. statement of owner's equity. income statement.

Weegy: The financial statement that shows the state of the firm's assets, liabilities, and owner's equity on a specific date is called BALANCE SHEET. (More)

Question

Updated 5/16/2014 7:13:35 AM

0 Answers/Comments

A credit increases liabilities and owner's equity. (Points : 3) True False

Weegy: The answer is True, a credit increases liabilities and owner's equity. (More)

Question

Updated 5/15/2014 6:30:00 AM

0 Answers/Comments

Revenue accounts normally have debit balances

Weegy: Revenue accounts normally have debit balances. This statement is FALSE. (More)

Question

Updated 5/15/2014 6:32:02 AM