Balance Sheet

3. The alternative name for working capital.
7. A type of current liability allowing a business to withdraw more money than they have in their account.
10. Assets that cannot be touched are called this, e.g. brand name.
12. Items of value that will remain in the business for longer than a year.
15. Items of value that will remain in the business for less than a year.
16. Another term used for inventories.
19. An advanced payment, e.g. a deposit.
21. Historic cost – accumulated depreciation =

1. Debt that a business has more than a year to repay.
2. A document that shows what a company owns and owes at a particular point in time.
4. Individuals or businesses who we owe money to.
5. Share capital + retained profit - drawings
6. (Current Assets + Non-current assets) – (Current liabilities + Non-current liabilities)
8. The process of depreciating intangible assets.
9. Spreading the value of an asset over its useful life
11. A type of non-current liability used to buy property.
13. Another term for debtors.
14. Debts that have to be repaid within a year
17. Money taken out of the company by owners
18. Item of value owned by a business
20. Individuals or businesses that owe us money.