Question

Categories the bellow Balance sheet items as either Non-current assets, Current assets, Current liabilities, Non current liabilities or Equity:
1) Ordinary share capital -
2) Profit & loss reserves (Retained Profits) -
3) Positive Bank Balance -
4) Trade Receivebles -
5) Benk Ovedraft -
6) Trade payable -

Answer 1

Ordinary share capital comes under Equity

Retained profits come under Equity

Positive bank balance come under Current assets

Trade receivables come under Current assets

Bank overdraft come under Current liability and

Trade payable come under Current liability.