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Balance sheet Assets= liability + equity (ASSETS (Current (Expected to be…
Balance sheet
Assets= liability + equity
ASSETS
Current
Expected to be converted to cash, sold or consumed in the next 12 monts or within the business operating cycle.
receivable
Inventory
Short term investment
Cash
Prepaid expenses
Not curent
Will be held longer than one year.
Intangibles
Long-term investments
PPE
Liabilities
Current
Obligation or debt payable in the one year.
Salaries
Short terms note payable
Taxes
Account payable
Non-current
Debt payable in more than one year.
long term note payable
Bonds payable
Equity
Shareholder's ownership of the business assets.
Paid in capital
Retained earnings