Assets and debts

• Economie
• Middelbare school
• vwo
• Leerjaar 3

Assets and debts

Revenue and cost

Which information is needed to specify the assets on the left side of the balance sheet?

1. Profit and loss account
2. Investment budget
3. Financing plan
4. Equity

Which information is needed to specify the debts on the right side of the balance sheet?

1. Profit and loss account
2. Investment budget
3. Financing plan
4. Equity

PIN machine belongs to

1. Building
2. Inventory
3. Goods
4. Liquid assets

Abdullah's kitchen appliances belongs to:

1. Building
2. Inventory
3. Goods
4. Liquid assets

Meat in Abdullah's fridge
belongs to

1. Building
2. Inventory
3. Goods
4. Liquid assets

Abdullah's fridge
belongs to

1. Building
2. Inventory
3. Goods
4. Liquid assets

The money in the cash register at Sleepworld
belongs to

1. Building
2. Inventory
3. Goods
4. Liquid assets

Abdullah's tables and chairs
belongs to

1. Building
2. Inventory
3. Goods
4. Liquid assets

Liabilities

Equity + debt capital

Equity = the owner's money

From a Limited Company (Google) you can buy shares. As a shareholder you own part of the company

f.e. 10,000 shares X € 50 = € 500,000 share capital

This is the equity of the company

Creditors = Suppliers to whom a company owes money

Clogs Limited purchases clogs for € 20

The company doesn't pay immediately but receives an invoice. 

The goods have been received

Assets			Liabilities
Goods in stock	+ 20	Creditors	+ 20

Creditors: paying the invoice

The invoice for the delivered clogs are paid by bank

Assets			Liabilities
Bank balance	- 20	Creditors	- 20

Debtors = customers who have not payed their invoices

Clogs are sold for € 80. The purchase price is € 20

The customer received an invoice. 

Assets			Liabilities
Goods in stock	- 20	Equity	+ 60
Debtors	+ 80

Debtors: the customer pays the invoice by bank

Assets			Liabilities
Debtors	- 80
Bank	+ 80

Buns are delivered to Abdullah along with a bill. Abdullah has to pay € 600 within a month. This debt belongs to:

1. Goods
2. Debtors
3. Creditors
4. Bank loan

Abdullah delivers 5 meals to a shop nearby. The owner of the shop receives a bill of € 48. This is an example of

1. Goods
2. Debtor
3. Creditor
4. Bank loan

Just do it

Homework:

6 - 9

page 104

The comsumer price of a kebab sandwich is € 2.42 including VAT 21 %
Calculate the price excluding VAT

The consumer price of a kebab sandwich is € 2.42 including VAT  of 21 %

Calculate the price excluding VAT

Price excluding VAT                    € ............        100 %

VAT 21 %                                            €............. +    21 %   +

Price including VAT                     €   2.42        121 %

€ 2.42/121 X 100 = € 2

X wrong X --> 0.21 X € 2.42 = € 0.51 --> € 2.42 - € 0.51 = € 1.91

Homework

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