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Liabilities are included on the credit side of the balance sheet.
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∙ 13y ago
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Where does overdraft go to balance sheet or profit and loss account?
Bank overdraft is shown in balance sheet either as a negative amount of bank in asset side or at liability side of balance sheet.
Where does bank go in a trading profit and loss account or balance sheet?
Well salaries payable is liability of an organization . This is a current liabilities so they are posted in capital and liability side of a balance sheet.
Does dividends go on a balance sheet?
Dividends payable are part of balance sheet as liability and shown under liability side of business.
Where do finance leases go on the balance sheet?
Finance lease is shown as an asset in asset side of balance sheet as well as shown as a liability under long term liability section of balance sheet.
Where does owner capital go on the balance sheet?
It goes under the Owner's Equity of the Balance Sheet. Assets = Liability + Owner's Equity
Does interest payable go on a balance sheet?
Interest payable is the interest which is not yet paid and required payment to be made so it is the liability of the company and that's why it will show as a current liability under liability side of the balance sheet.
Does unearned revenue go in the income statement?
No, it goes on the balance sheet as a liability.
Where does sales tax payable on the balance sheet go?
Sales tax payable is a current liability and is presented on the credit side of the balance sheet-
Would Accounts payable go under statement of changes in owner's equity in a financial statement?
No. Accounts payable is a liability account, which is used in the balance sheet.
Where does reserve for depreciation go on the balance sheet?
accumulated depreciations are recorded in the liability side of the balance sheet as a deduction from concerned assets. it also shows in the debit side of profit and loss account as an expence
Where does sales commission payable go on the multiple step income statement?
Sales commission payable is not part of income statement and it is shown in balance sheet as current liability in liability side of balance sheet.
Where does revaluation reserve go on the balance sheet?
Revaluation reserve is part of equity of business as shown under equity section in liability section of balance sheet.
