Acct1001 lecture 1 (1 Viewer)

[konkzz]

Hey, I missed the end of the first lecture of ACCT1001 and, thus, left out some of the close passages on the last page of the slides.

Can someone from Accounting 1 a help me fill in the following?

- the examples for Owner's Equity (i.e. after the e.g. )

- Current assets: Future economic benefits like to be __________________________ e.g. cash, accounts receivable

- Non- current assets: Future economic benefits likely _________________________ e.g. Car, Building

- Current liabilities: Debts to be paid ________ e.g. accounts payable, short term loan

- Non-current liabitlies: Debts to be paid ______________________ e.g. mortgage, long term loan

Thanks !

 

[jeff.wong]

- Current assets: Future economic benefits like to be consumed/used within 12 months e.g. cash, accounts receivable

- Non- current assets: Future economic benefits likely not consumed/ used up in 12 months e.g. Car, Building

- Current liabilities: Debts to be paid within 12 months e.g. accounts payable, short term loan

- Non-current liabitlies: Debts to be paid after the next 12 months e.g. mortgage, long term loan