classify the following items into liabilities and assets; a)money owing to bank b)stock of goods c)loan...

Question

Question

classify the following items into liabilities and assets; a)money owing to bank b)stock of goods c)loan...

classify the following items into liabilities and assets;

a)money owing to bank

b)stock of goods

c)loan from omer

d)creditor

e)debtor

f)capital

business accounting

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Answer 1

Answer #1

A) Money owing to bank = Liability.

B) Stock of goods = Assets.

C) Loan from omer = Liability.

D) Creditor = Liability.

E) Debtor = Assets.

F) Capital. = Liability.

SUMMARY:

Assets are the resources that is owned by the company while liabilities are something that is a person or company owes.

In the above question,

Assets includes stock of goods, debtors, while liabilities includes money owing to bank, loan from omer, creditor and capital.

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Answer 2

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classify the following items into liabilities and assets; a)money owing to bank b)stock of goods c)loan...

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classify the following items into liabilities and assets; a)money owing to bank b)stock of goods c)loan...

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Add Answer to: classify the following items into liabilities and assets; a)money owing to bank b)stock of goods c)loan...

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classify the following items into liabilities and assets; a)money owing to bank b)stock of goods c)loan...