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Acid Test Ratio

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Question

How to find fixed assets on the balance sheet?

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Solution

The fixed assets can be found on the debit side of the balance sheet under the head of fixed assets.

Also see:

What Are Current Assets?

Fixed Assets Vs Current Assets

Balance Sheet

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Similar questions

Q. From the Balance Sheet given below, calculate:
(i) Fixed Assets
(ii) Current Assets
(iii) Current Liabilities
(iv) Working Capital

Balance Sheet as at 31^st March, 2018
Liabilities	₹	Assets	₹
Trade Creditors	42,000	Stock in Hand	48,000
Expenses Accrued	3,200	Debtors	36,000
Bank Overdraft	4,800	Prepaid Expenses	400
Long-Term Loan	20,000	Goodwill	20,000
Interest on Loan	1,000	Land	20,000
Capital	93,400	Plant	32,000
		Furniture	8,000
	1,64,400		1,64,400

Q. From the Balance Sheet given below, calculate:
(i) Fixed Assets (ii) Current Assets
(iii) Current Liabilities (iv) Working Capital

BALANCE SHEET as at 31^st March, 2019
Liabilities	₹	Assets	₹
Trade Creditors	42,000	Stock in Hand	48,000
Expenses Accrued	3,200	Debtors	36,000
Bank Overdraft	4,800	Prepaid Expenses	400
Long-Term Loan	20,000	Goodwill	20,000
Interest on Loan	1,000	Land	20,000
Capital	93,400	Plant	32,000
		Furniture	8,000
	1,64,400		1,64,400

On dissolution, how you deal with partner’s loan if it appears on the

(a) Assets side of the Balance Sheet

(b) Liabilities side of the Balance Sheet

Q. The Balance sheet will always reflect the _______ value of fixed assets after charging depreciation.

Q. how will the fixed assets account will be made for the following information:-
fixed assets opening balance-1,86,800 ; fixed assets closing balance-3,32,000; and adjustment given is-depriciation on fixed assets 40,000.an assest whose book value was 15000 and depriciation on it 7000 was sold for 9000.

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