Which of the following would not appear on the balance sheet?

Drawings

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Carriage inwards

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Machinery

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Money owed by the firm to suppliers

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Solution

The correct option is D Carriage inwards
Drawings is an amount withdrawn from business for personal use. It reduces the capital. Machinery is an asset. It comes in asset side of balance sheet. Money owed by firm to suppliers represents the liability of business. So it also appear in balance sheet. But carriage inward is an expense. It refers to the transportation costs associated with the purchase of goods. It comes in Trading Account.

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