Statement of Financial Position Flashcards
(21 cards)
1
Q
Bank
A
Current Asset
2
Q
Inventory
A
Current Asset
3
Q
Accounts Receivable
A
Current Asset
4
Q
Shares
A
Investment Asset
5
Q
Shop Fittings
A
Property, Plant & Equipment
6
Q
Land
A
Property, Plant & Equipment
7
Q
Van
A
Property, Plant & Equipment
8
Q
Buildings
A
Property, Plant & Equipment
9
Q
Office Equipment
A
Property, Plant & Equipment
10
Q
Goodwill
A
Intangible Asset
11
Q
Patent
A
Intangible Asset
12
Q
Copyright
A
Intangible Asset
13
Q
Accounts Payable
A
Current Liabilities
14
Q
GST Payable
A
Current Liabilities
15
Q
Loan (more than 12 months)
A
Non-Current Liabilities
16
Q
Mortgage
A
Non-Current Liabilities
17
Q
Opening Capital
A
Equity
18
Q
Plus Investment
A
Equity
19
Q
Plus Profit for the Year
A
Equity
20
Q
Less Drawings
A
Equity
21
Q
Closing Capital
A
Equity
