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    I have an accounting exam soon, and I was wondering if someone could tell me which term goes in the profit and loss (income statement) and which goes in the balance sheet please!!!!
    Sales revenue –
    Cost of sales –
    Other expenses
    Interest payable
    Plant at cost
    Accumulated decripration on plant
    Stock
    Trade recievables
    Cash in bank
    Share capital
    Retained profit
    10% long term loan
    Trade payables
    Other payables
    Bank overdraft
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    (Original post by ForeverDreams)
    I have an accounting exam soon, and I was wondering if someone could tell me which term goes in the profit and loss (income statement) and which goes in the balance sheet please!!!!
    Sales revenue –
    Cost of sales –
    Other expenses
    Interest payable
    Plant at cost
    Accumulated decripration on plant
    Stock
    Trade recievables
    Cash in bank
    Share capital
    Retained profit
    10% long term loan
    Trade payables
    Other payables
    Bank overdraft
    Stock
    Trade recievables
    Cash in bank
    Share capital
    Retained profit
    10% long term loan
    Trade payables

    Bank overdraft


    Pretty sure these are all Balance sheet items
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    (Original post by Zenomorph)
    Stock
    Trade recievables
    Cash in bank
    Share capital
    Retained profit
    10% long term loan
    Trade payables

    Bank overdraft


    Pretty sure these are all Balance sheet items
    Plant at cost and accumulated depreciation go on the balance sheet too to give you a net book value for fixed assets
 
 
 
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