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Overview of Financial Statements

How to Show F...

Question

How to Show Fixed Assets on the Balance Sheet?

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Solution

Fixed assets are represented in the balance sheet under the property, plant and equipment (PP & E) section.

Also read:

Difference Between Assets and Liabilities

What Are Current Assets

What Are Non Current Assets

What Is a Fixed Asset

Balance Sheet Vs Profit Loss Account

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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. Taking all ______ assets with additions after charging depreciation and showing them on the assets side is one step adopted in preparation of balance sheet.

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