Balance sheet Assets= liability + equity (ASSETS (Current (Expected to…
Assets= liability + equity
Expected to be converted to cash, sold or consumed in the next 12 monts or within the business operating cycle.
Short term investment
Will be held longer than one year.
Obligation or debt payable in the one year.
Short terms note payable
Debt payable in more than one year.
long term note payable
Shareholder's ownership of the business assets.
Paid in capital