. Identifying assets, liabilities and capital. Here is a list of assets and liabilities and references to capital. Read through the list, and then identify which iter are assets, liabilities, capital. • Vehicle • Shop fittings • Cash at bank • Bank loan • Owners investment in the business Inventory • Trade receivables

Principles of Accounting Volume 1
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Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 4EB: From the following list, identify which items are considered original sources: A. accounts...
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1. Identifying assets, liabilities and capital.
Here is a list of assets and liabilities and references to
capital. Read through the list, and then identify which items
are assets, liabilities, capital.
• Vehicle
• Shop fittings
• Cash at bank
• Bank loan
• Owners investment in the business
Inventory
• Trade receivables
• Bank overdraft
• Trade payables
Machinery
• Cash in hand
●
Equipment
• Amounts owing to suppliers
• Furniture
● Land
• Loan from a friend
• Value of owner's stake in the business
• Amounts owed by customers
• Cash at bank
●
• Fittings
Transcribed Image Text:1. Identifying assets, liabilities and capital. Here is a list of assets and liabilities and references to capital. Read through the list, and then identify which items are assets, liabilities, capital. • Vehicle • Shop fittings • Cash at bank • Bank loan • Owners investment in the business Inventory • Trade receivables • Bank overdraft • Trade payables Machinery • Cash in hand ● Equipment • Amounts owing to suppliers • Furniture ● Land • Loan from a friend • Value of owner's stake in the business • Amounts owed by customers • Cash at bank ● • Fittings
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