. 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
. 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
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 4EB: From the following list, identify which items are considered original sources: A. accounts...
Related questions
Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F648d38bc-f5b9-4baf-95bc-853621e34b39%2F3f089f68-63c7-4672-9b9e-88f12e8326c6%2Fzgdbbu_processed.jpeg&w=3840&q=75)
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
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781337280570/9781337280570_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT