QQuestionAccounting
QuestionAccounting
which account does not appear on the balance sheet?
owner's equity
accounts payable
utility expense
accounts receivable
retained earnings
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Answer
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Step 1: Identify the types of accounts that appear on a balance sheet
The balance sheet is composed of three main categories of accounts: assets, liabilities, and owner's equity.
Step 2: Analyze the given account options
The accounts provided are owner's equity, accounts payable, utility expense, and accounts receivable.
Final Answer
Utility expense does not appear on the balance sheet.
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