Is supplies listed as a CURRENT ASSET in a balance sheet?
Yes, supplies are typically listed as a current asset on a balance sheet. A balance sheet is a financial statement that presents a company's financial position at a specific point in time. It consists of three main sections: assets, liabilities, and equity.
Current assets are resources or items that are expected to be converted into cash, used up, or consumed within a year or the operating cycle of the business, whichever is longer. Examples of current assets include cash, accounts receivable, inventory, and supplies.
To confirm if supplies are listed as a current asset on a specific balance sheet, you would need to review the balance sheet itself. This document is usually prepared by the company's accounting department and can be found in the company's financial reports or statements. The supplies would typically be categorized under the current assets section of the balance sheet.