Question

The following items were drawn from the financial statements of Rogers Company:

1.Assets
2.Stockholders Equity
3.Salary Expense
4.Land
5.Rent Revenue
6.Notes Payable
7.Utility Expense
8.Common Stock
9.Sales Revenue
10.Cash
11.Liabilities
12.Dividends
13.Interest Expense
14.Retained Earnings
Which of the items listed above were drawn from the Balance Sheet?

Answer 1

Items 1, 2, 4, 6, 8, 10, 11, and 14 are from the Balance Sheet, which records a company's assets, liabilities, and shareholders' equity at a specific time.

Step-by-step explanation:

The items drawn from the Balance Sheet of Rogers Company are Assets (1), Stockholders Equity (2), Land (4), Notes Payable (6), Common Stock (8), Cash (10), Liabilities (11), and Retained Earnings (14). The Balance Sheet is a financial statement that provides a snapshot of a company's financial position, including its assets, liabilities, and shareholders' equity at a specific point in time. Assets are resources owned by the company that have value and can generate cash flow, liabilities are obligations of the company that will require future payment, and shareholders' equity represents the owners' claims on the assets after all liabilities have been paid.