Chart of Accounts

Cash at Bank is recorded on Balance sheet as

• Current Asset

• Current Liability

The Accounting Equation is

• Assets = Liabilities + Owners Equity

• Revenue - Expenses = Profit

A Building would be classified as

• Non Current Liability

• Non Current Asset

A Mortgage on a Building is a

• Non Current Liability

• Capital

Any money that an owner contributes to a business is

• Capital

• A loan

Accounts Receivable are a

• Current Asset

• Current Liability

Accounts Payable are a

• Current Liability

• Non Current Liability

Wages are an

• Account Payable

• Expense

Calculation to determine Profit

• Revenue - Expenses

• Assets - Liabilities

Assets, Liabilities and Owners Equity are recorded on

• Balance Sheet

• Income Statement