Assignment 1 - Question 1 CIRCULAR PIZZAS LTD On the next page is a draft balance sheet which Circulars accountant is planning to fill in Where would

Assignment 1 - Question 1 CIRCULAR PIZZAS LTD On the next...

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Question 1CIRCULAR PIZZAS LTDOn the next page is a draft balance sheet which Circular’s accountant is planning to fill in. Where would she put the following items?a)A bank overdraft, repayable on demandb)Twelve tonnes of pizza doughc)A bank loan, repayable in five yearsd)Invoices from a supplier of garlic and tomato pastee)Taxes for the current year payable in nine months’ timef)An oven and two delivery bikesg)A bill (unpaid) for pizzas delivered to a Christmas partyh)An order to purchase plant and equipment Question 1: Balance Sheet CURRENT ASSETS Cash Accounts Receivable g Inventory b LONG-TERM ASSETS Plant and Machinery f CURRENT LIABILITIES Bank Overdraft a Accounts Payable b Tax Payable e Dividends Payable Other Payable LONG TERM LIABILITIES Bank Loan c NET ASSETS SHAREHOLDERS’ EQUITY 1
Common Stock Retained Earnings TOTAL LIABILITIES AND EQUITY

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