The Statement of Stockholders' Equity Has Separate Columns For

question 29

Multiple Choice

The Statement of Stockholders' Equity has separate columns for:

• A)each revenue and expense account.
• B)each asset account.
• C)each liability account.
• D)each stockholders' equity account.

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Definitions:

Contra Asset

An account on a company's balance sheet that offsets against an asset account on the same balance sheet.

Miscellaneous Revenue

Income from sources other than the main business activities, such as rental income or interest income.

Cash Over And Short

An account that records the discrepancies between the actual cash received and the expected amount.

Credit Balance

An accounting term that signifies a positive balance in a liability, revenue, or equity account, which increases on the credit side and decreases on the debit side.