jbk2000
Aug 13, 2010, 06:19 AM
Hi I'm having trouble going over a few past papers about whether each of these goes under liability or asset and which asset and liability it comes under. This is what I have come up with but I am not sure whether it is correct, could someone please tell me if I have made any mistakes thanks.
Cash at bank - Current Asset
Debtors - Current Asset
Freehold premises - Fixed asset
Debentures - Long term liability
Plant and machinery - Fixed asset
Goodwill - Intangible asset - fixed asset
Stock - Current asset
Trade creditors - Current liability
Ordinary shares - Current liability
Bank overdraft - Long term liability
Also intangible assets come under fixed assets, does tangible also come under fixed or current?
Cash at bank - Current Asset
Debtors - Current Asset
Freehold premises - Fixed asset
Debentures - Long term liability
Plant and machinery - Fixed asset
Goodwill - Intangible asset - fixed asset
Stock - Current asset
Trade creditors - Current liability
Ordinary shares - Current liability
Bank overdraft - Long term liability
Also intangible assets come under fixed assets, does tangible also come under fixed or current?