Original Writing

lease a non-current asset Motor vehicle on hire purchase – non-current assetGoodwill acquired when the business was purchased - intangible non-current assetUnsold stock at the year end – current assetAmounts owed by customers – current assetNotification of a customer, who is still a debtor, going into liquidation – asset becomes an expenseAmounts owed to suppliers – current liabilityAccumulated depreciation on plant – shown as reduction of non-current asset (not as a liability)A credit bank balance  - non-current liabilityUnpaid tax bill of a sole trader (drawings); of a company (expense)12 month guarantee given on products sold – contingent liabilityProceeds of owners premium bond win paid into the business bank account – capital introducedResearch and development expenditure - partly expense (potentially) partly non-current assetValuable oil painting in the board room – non-current assetStock of goods in the warehouse that were mistakenly delivered by a supplier - non recognisable transactionThe unpaid invoice for the above - non recognisable transactionStock of goods taken by owner for his own use - drawingsPart of sale trader’s house being used as business office – rental expense/capital introducedThe profit for the year - capitalLoan to an employee – current assetThe signing of a profitable contract to supply services to a new customer - non recognisable transactionA senior employee winning the “Inventor of the Year’ title - non recognisable transactionSubstantial costs of staff training - non recognisable transaction