1.07 Long Term Liabilities should fall under the Net Assets/Other Liabilities in Balance Sheet? Find the answer here!!!

In fact, the Balance Sheet has many way to present it. But, the commonly format use will be...

Fixed Asset (A)

Landing and Building XXX

Machinery XXX XXX

Current Assets

Stocks XXX

Debtors XXX

Cash XXX

Less: Current Liabilities

Creditors (XXX)

Bank Overdraft (XXX)

Short term loans (XXX)

Working Capital (Net Current Asset) (B) XXX

NET ASSETS (A + B) XXX

Financed by:

Shareholders' funds

Share capital XXX

Profit and loss accounts reserves XXX

Long Term Liabilities

Longer term bank loan XXX

CAPITAL EMPLOYED XXX

Note:

Net assets should be equal to Capital employed