Sunday, July 11, 2010

In Accounting whats the order of these on a spread sheet?

I forgot a sheet that tells me the order. So could someone tell me the correct order for both assets and liabilities please? There is:

for:

Assets:

Bank

Land

A/R - Jones

Supplies

Office Equipment

Automobile

Building

Liabilities:

A/P - Smith

Bank Loan

Mortgage Payable

Thanks =]


You need to know the due dates of payments before you can sort them according to liquidity. For e.g. must the bank loan be paid before the mortgage payable or vice versa? In the absence of more info, and sorting them in order of increasing liquidity, the order would be:

Assets

Land

Building

Automobile

Office equipment

AR - Jones

Supplies

Bank

Liabilities:

Mortgage Payable

Bank Loan

A/P - Smith

bank , A/r , land, supplies, building , automobile , office equipment

a/p , mortgage payable , bank loan

No comments: