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Classify The Following Into Assets or Liabilities

This document provides information to classify various items as either assets or liabilities for three businesses. It defines assets as items of value owned by a business and liabilities as amounts owed. It then provides lists of items to classify for each business, with the classified items filled in a table. It also includes incomplete tables to fill in with asset, liability, and capital amounts for different businesses. Finally, it provides financial information for a business and asks to calculate its capital based on the given assets, liabilities, and financial information.

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SandraMarie James
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200 views2 pages

Classify The Following Into Assets or Liabilities

This document provides information to classify various items as either assets or liabilities for three businesses. It defines assets as items of value owned by a business and liabilities as amounts owed. It then provides lists of items to classify for each business, with the classified items filled in a table. It also includes incomplete tables to fill in with asset, liability, and capital amounts for different businesses. Finally, it provides financial information for a business and asks to calculate its capital based on the given assets, liabilities, and financial information.

Uploaded by

SandraMarie James
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Classify

the following into assets or liabilities:


(a) Business premises
b) Bank overdraft (MONEY OWING TO BANK)
(c) Money owed by others to the business
(d) Equipment owned by the business
(e) Mortgage on premises
(f ) Cash held in till
(g) Unpaid bill
Assets Liabilities
Business premises Bank overdraft
Money owed by others to the business Unpaid bills
Equipment owned by the business
Mortgage on premises

Classify the following into assets or liabilities:


(a) Money owed to suppliers
(b) Vehicles used by the business
(c) Goods bought with the intention of their being sold for a profit
(d) Computer used in the business
(e) Bank loan to be repaid within the next year
(f ) Amount owing for office fixtures bought on credit.
Assets Liabilities
Vehicles used by business Money owed to suppliers
Goods but with the intention of there being Bank loan to be repaired within
sold for a profit the next year
Computer used in the business Amount owing for office fixtures

Classify the following into assets or liabilities:


(a) Amount that business will need to pay another business for
purchases of equipment
(b) Cash in bank account
(c) Balance on savings account
(d) Bill paid in advance
(e) Amount due to be paid in next month for business rates
(f ) Delivery van.
Assets Liabilities
Cash in bank Amonunt that the business will need to pay another
account business for purchases of equipment
balance on savings Bill paid in advance
account

Complete the gaps in the table below: write your answers in


Blue
Assets Liabilities Capital
(a) 2,800 4,100 1,300
(b) 3,870 1,190 2,680
(c) 9,875 1,195 8,680
(d) 64 543 637
(e) 6,767 1,107 5,660

A business provides the following figures


Property 54,000
Equipment 8,200
Bank 1,150
Loan 15,900
Based on the above data ascertain the size of the capital of
the business.
79,250



Adajah Julien

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