Categorise the following balance sheet items as either: A. Non-current assets B. Current assets C. Current...
Categorise the following balance sheet items as either:
A. Non-current assets B. Current assets C. Current liabilities D. Non-current liabilities or E. Equity
Preference share capital: Answer __
Long-term trade Investment: Answer __
Share premium account: Answer __
Deferred tax: Answer __
Revaluation reserve account: Answer __
Positive bank balance: Answer __
Ordinary share capital: Answer __
Goodwill: Answer __
Profit and loss reserves: Answer __
Current tax payable: Answer __
Homework Answers
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| Particulars | Particulars |
| Preference share capital: | E. Equity |
| Long-term trade Investment: | A. Non-current assets |
| Share premium account: | E. Equity |
| Deferred tax: | Can be A. Non-current assets B. Current assets C. Current liabilities D. Non-current liabilities depending on the on the classification of the asset or liability that gave rise to it. |
| Revaluation reserve account: | D. Non-current liabilities |
| Positive bank balance: | B. Current assets |
| Ordinary share capital: | E. Equity |
| Goodwill: | A. Non-current assets |
| Profit and loss reserves: | E. Equity |
| Current tax payable: | C. Current liabilities |
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Categorise the following balance sheet items as either:
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