Which of the following accounts does NOT appear on a classified balance sheet?

• A. Salaries Expense
• B. Accounts Payable
• C. Accounts Receivable
• D. Accumulated Depreciation—Equipment

Answer: (A)

Verified step by step guidance

1. Step 1: Understand the structure of a classified balance sheet. It organizes assets, liabilities, and equity into specific categories such as current assets, long-term assets, current liabilities, long-term liabilities, and shareholders' equity.
2. Step 2: Identify which types of accounts typically appear on a classified balance sheet. These include asset accounts (e.g., Accounts Receivable), liability accounts (e.g., Accounts Payable), and contra-asset accounts (e.g., Accumulated Depreciation—Equipment).
3. Step 3: Recognize that expense accounts, such as Salaries Expense, do not appear on the balance sheet. Instead, they are reported on the income statement because they represent costs incurred during a period.
4. Step 4: Review each account given: Accounts Payable (liability), Accounts Receivable (asset), Accumulated Depreciation—Equipment (contra-asset), and Salaries Expense (expense).
5. Step 5: Conclude that the account which does NOT appear on a classified balance sheet is the Salaries Expense account, as it is part of the income statement, not the balance sheet.