Classify the following items into liabilities and assets: (a) Motor vehicles (f) Owing to bank (b) Premises
Question:
Classify the following items into liabilities and assets:
(a) Motor vehicles
(f) Owing to bank
(b) Premises (g) Cash in hand
(c) Accounts payable for inventory (h) Loan from D. Jones
(d) Inventory (i) Machinery
(e) Accounts receivable
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Lilian Nyambura
Hi, am Lilian Nyambura, With extensive experience in the writing industry, I am the best fit for your writing projects. I am currently pursuing a B.A. in Business Administration. With over 5 years of experience, I can comfortably say I am good in article writing, editing and proofreading, academic writing, resumes and cover letters. I have good command over English grammar, English Basic Skills, English Spelling, English Vocabulary, U.S. English Sentence Structure, U.K. or U.S. English Punctuation and other grammar related topics. Let me help you with all your essays, assignments, projects, dissertations, online exams and other related tasks. Quality is my goal.
4.80+
378+ Reviews
750+ Question Solved
Related Book For
Frank Woods Business Accounting
ISBN: 9780273759287
12th Edition
Authors: Frank Wood. Sangster, Alan
Question Posted:
Students also viewed these Business questions
-
1.3 Which of the items in the following list are liabilities and which of them are assets? (a) Loan to C Shirley (d) Computers (b) Bank overdraft (e) We owe a supplier for goods (c) Fixtures and...
-
Emily Jackson (Social Security number 765-12-4326) and James Stewart (Social Security number 466-74-9932) are partners in a partnership that owns and operates a barber shop. The partnership's first...
-
Classify the following items into liabilities and assets: (a) Motor vehicles (b) Premises (c) Creditors for goods (d) Stock of goods (e) Debtors (f) Owing to bank (g) Cash in hand (h) Loan from D...
-
The methyl alcohol flowing in the inner pipe of a double pipe exchanger is cooled with water flowing in the jacket. The inner pipe is made from 1-inch (25mm) schedule 40 steel pipe. The thermal...
-
How much work did the movers do (horizontally) pushing a 160-kg crate 10.3 across a rough floor without acceleration, if the effective coefficient of friction was 0.50?
-
Given an interest rate of 5.3 percent per year, what is the value at date t = 7 of a perpetual stream of $6,400 payments that begins at date t = 15?
-
True or False: If MARR \(=10 \%\) and IRR \(=9 \%\), then ERR \( <10 \%\) and \(\mathrm{PW}>\$ 0\).
-
Lazy River Resort opened for business on June 1 with eight air-conditioned units. Its trial balance before adjustment on August 31 is as follows. In addition to those accounts listed on the trial...
-
1. A hollow conducting sphere has an inner and outer radius of R and R2 respectively. A point charge of +Q sits inside the hollow sphere at the center. Additionally, a charge of +2Q is distributed...
-
Luca Pacioli is setting up a new business. Before actually selling anything, he bought a van for 13,000, a transportable market stall for 1,050; a computer for 450; and an inventory of goods for...
-
Which of the items in the following list are liabilities and which of them are assets? (a) Loan from A. Sangster (d) Bank overdraft (b) We owe a supplier (e) Inventory of goods held for sale (c)...
-
State whether each of the following is a physical or a chemical property. (a) Manganese bubbles in acid. (b) Silver is malleable. (c) Calcium turns dark in air. (d) Carbon grinds to a powder.
-
1. Two vectors are given as A-21-3+3k and B-1 +23-k in Cartesian coordinates. What is the angle between the two vectors. (20p)
-
The Statement of Comprehensive Income provided below was obtained from the accounting records of Dreamonline Limited: Statement of Comprehensive Income for the year ended 31 August 2018 (Extract) R...
-
Suppose, you have a matrix X' = [X, X, X3, X] with mean vector jix [4, 3, 2, 1], and the variance-covariance matrix: Ex Let A = [1 2], and B [302 2 011 0 219 -2 20-2 Suppose, the matrix X'...
-
A 10 Meter tall tank open to the air is filled with a fluid with a density of 1200 kg/m^3. It is located with its bottom 10 meters off the ground. When a hole is open at the bottom, fluid sprays out...
-
. For each of the following, determine whether the given function is a group homo- morphism. Justify your answer. Zo defined by o(i) = 2i for all i Z3. (a) : Z3 : Z3 (b) S3 defined by o(i) = (123)...
-
On December 8, 2007, Lynch Incorporated sold $9,000 of merchandise with terms 2/10, n/EOM. On December 18, 2007, collections were made on sales originally billed for $5,000, and on December 31, 2007,...
-
Consider the activities undertaken by a medical clinic in your area. Required 1. Do you consider a job order cost accounting system appropriate for the clinic? 2. Identify as many factors as possible...
-
From the following figures calculate the closing stock in trade that would be shown using (i) FIFO, (ii) LIFO, (iii) AVCO methods. March September Bought 100 at 16 each 220 at 19 each December Sold...
-
The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader. The following additional information as at 31 May 20X6 is available: (a) Rent is accrued by 210. (b) Rates...
-
This question also relates to extended trial balances (see Exhibit 28.2) From the following trial balance of John Brown, store owner, prepare a trading account and profit and loss account for the...
-
9.1 Assume for this problem that the 69 kV system (Figure P9.1) is open and make the following calculations: a. Calculate the fault current in the three phases for a solid phase-a-to-ground fault on...
-
Answer the following prompts Your overall impression of book Choose two areas you felt reflected you. Explain why you were drawn to the sections. Please use examples within your discussion from text...
-
Answer the following questions: 0.0 00 f(x) 0.6 0.8 1.0 0.2 0.4 5 10 15 20 25 30 X a. The graph above shows three gamma densities F(3,1), F(10,1) and F(1,1); Please identify which one is which....
Study smarter with the SolutionInn App