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Classify the ...

Question

Classify the following into Assets, Liabilities, Capital, Expenses and Revenue:

(i) Land; (ii) Investments; (iii) Building; (iv) Interest Received;

(v) Salary; (vi) Bank Overdraft; (vii) Debtors; (viii) Creditors;

(ix) Bad Debts; (x) Capital; (xi) Depreciation; (xii) Motor Vehicles;

(xiii) Freight; (xiv) Wages; (xv) Goodwill; (xvi) Repairs.

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Solution

Assets

Liabilities

Capital

Expenses

Revenue

(i) Land

(vi) Bank Overdraft

(x) Capital

(v) Salary

(iv) Interest Received

(ii) Investments

(viii) Creditors

(ix) Bad Debts

(iii) Building

(xi) Depreciation

(vii) Debtors

(xiii) Freight

(xii) Motor Vehicles

(xiv) Wages

(xv) Goodwill

(xvi) Repairs

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