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Complete the Following Table Concerning the Classification of Items in the Statement

Question 13

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Complete the following table concerning the classification of items in the statement of financial position.
ACCOUNT ELEMENTS CLASSIFICATION
(Asset, Liability, Equity)(Current, Non-current)
 e.g  Cash on hand  Asset  Current  e.g  Land and buildings  Asset  Non-current 1 Inventory 2 Accounts receivable 3 Bank overdraft 4 Prepaid insurance 5 Share capital 6 Retained profits 7 Accounts payable 8 Goodwill 9 Plant and equipment 10 Franchise 11 Loan from Eagle Finance (5 years) \begin{array}{|l|l|l|l|}\hline\text { e.g } & \text { Cash on hand } & \text { Asset } & \text { Current } \\\hline \text { e.g } & \text { Land and buildings } & \text { Asset } & \text { Non-current } \\\hline 1 & \text { Inventory } & & \\\hline 2 & \text { Accounts receivable } & & \\\hline 3 & \text { Bank overdraft } & & \\\hline 4 & \text { Prepaid insurance } & & \\\hline 5 & \text { Share capital } & & \\\hline 6 & \text { Retained profits } & & \\\hline 7 & \text { Accounts payable } & & \\\hline 8 & \text { Goodwill } & & \\\hline 9 & \text { Plant and equipment } & & \\\hline 10 & \text { Franchise } & & \\\hline 11 & \text { Loan from Eagle Finance (5 years) } & &\\\hline\end{array}

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