Balance Sheet

Which one is right?

• Asset = Owner's equity + Liability

• Asset = Owner's equity - Liability

• Asset + Owner's equity = Liability

• Asset + Owner's equity = expense

Classify Bank/Cash at bank

• Current assets

• Non-current Assets

• Current liabilities

• Revenue

• Owner's Equity

Classify Drawings

• Current assets

• Non-current Assets

• Current liabilities

• Non-Current Liabilities

• Owner's Equity

Classify GST Clearing

• Current assets

• Non-current Assets

• Current liabilities

• Non-Current Liabilities

• Owner's Equity

Classify Prepaid Rent expense

• Current assets

• Non-current Assets

• Current liabilities

• Non-Current Liabilities

• Owner's Equity

Classify Accounts receivable

• Current assets

• Non-current Assets

• Current liabilities

• Non-Current Liabilities

• Owner's Equity

Classify Accounts payable

• Current assets

• Non-current Assets

• Current liabilities

• Non-Current Liabilities

• Owner's Equity

Classify Capital

• Current assets

• Non-current Assets

• Current liabilities

• Non-Current Liabilities

• Owner's Equity

Classify Loan due in 5 years

• Current assets

• Non-current Assets

• Current liabilities

• Non-Current Liabilities

• Owner's Equity

Classify equipment

• Current assets

• Non-current Assets

• Current liabilities

• Non-Current Liabilities

• Owner's Equity