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