Classify the following into Assets and Liabilities. (i) Bank balance (vii) Premises (ii) We owe for goods (viii) Creditor for goods (iii) Motor vehicle (ix) Loan from D Randle (iv) Fixture and fittings (x) Cash in hand (v) Loan from Pringle (xi) Owing to bank (vi) Office machinery (xii) Debtor

Classify the following into Assets and Liabilities. (i) Bank balance (vii) Premises (ii) We owe for goods (viii) Creditor for goods (iii) Motor vehicle (ix) Loan from D Randle (iv) Fixture and fittings (x) Cash in hand (v) Loan from Pringle (xi) Owing to bank (vi) Office machinery (xii) Debtor

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 8DQ

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Question

Classify the following into Assets and Liabilities.

(i) Bank balance (vii) Premises

(ii) We owe for goods (viii) Creditor for goods

(iii) Motor vehicle (ix) Loan from D Randle

(iv) Fixture and fittings (x) Cash in hand

(v) Loan from Pringle (xi) Owing to bank

(vi) Office machinery (xii) Debtor

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