Where to represent an account receivable ?

[bogdan]

In which financial statements we have to represent an account receivable ? In balance sheet or in income statement ?

 

[kirby]

Balance sheet. If you studying accounting it will serve you well to MEMORIZE the accounts that are on the example balance sheet and the example income statement.

 

[Samir]

Very good advice kirby. Accounts payable is also on the balance sheet.

 

[gazmentsaci]

i approve post of kirby and samir. Accounts receivable and payable are in balance sheet.

 

[isaac grego]

All asset and liability appear in the balance sheet(statment of finacial position); an acc receivable is an asset and acc payable a liability. look out for a simple illustration below:

BALANCE SHEET

non-current asset.

-Office building
-company van
etc

current asset

-inventories
-recievables
etc

non current liability(long term)
-capital
-loan (purchase a non current asset)
etc

current liability(short term)

-bank overdraft
-payables
etc

#To be continued.....