QUESTION 19 When purchasing equipment, the asset representing the equipment purchase is recorded on the organization's:...

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QUESTION 19 When purchasing equipment, the asset representing the equipment purchase is recorded on the organization's:...

QUESTION 19

When purchasing equipment, the asset representing the equipment purchase is recorded on the organization's:

statement of income

balance sheet

neither of the above

business accounting

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Answer 1

Answer #1

Answer is Balance Sheet

Equipment is asset and is always recorded on the Balance Sheet. It is part of Fixed Assets and shown in the heading Fixed Assets of Balance Sheet

Statement of income records expenses and income

Hence answer is Balance Sheet

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Answer 2

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QUESTION 19 When purchasing equipment, the asset representing the equipment purchase is recorded on the organization's:...

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QUESTION 19 When purchasing equipment, the asset representing the equipment purchase is recorded on the organization's:...

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