XI Accounting Class 02 Kinds of Assets

Assets

CURRENT ASSETS
Cash/Bank:  (cash in hand) ( cash at bank)
Accounts Receivable
Notes Receivable  
Merchandise inventory /goods 
Prepaid Expenses
Supplies 
Marketable Securities:

Trading Topic

Heads of Accounts


Kind of Liabilities

FIXED ASSETS

An asset of a business intended for continuous use, rather than a short-term current asset (such as merchandise) is called fixed asset. 

There are two types of fixed assets:

Tangible Fixed Assets: : 

Land, Building, Machinery, Furniture, Equipment, etc.

 Intangible Fixed Assets

 Goodwill, Copyright, Trademark, Patents, etc.