Understanding Assets and Liabilities: A Comprehensive Guide
School
Paul Smith's College**We aren't endorsed by this school
Course
BUSINESS MGT360
Subject
Accounting
Date
Dec 12, 2024
Pages
1
Uploaded by CorporalKoala4784
AssetsLiabilitiesLiquid Assets$1,000 Petty Cash$8,500 Bank Account$2,500 Accounts Receivable$2,500 Inventory$14,500 Total Current AssetsFixed Assets$4,500 Motor Vehicle$1,800 Graphic Printer$6,300 Total Fixed Assets$20,800 Total Current Assets$8,500 Motor Vehicle Loan$5,800 Accounts Payable$14,300 Total Liabilities+ $5,000 Owners Equity+ $1,500 Retained Earnings$20,800
