Assets on the Balance Sheet:
The balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It consists of three main components: assets, liabilities, and equity. Assets represent the resources owned by the company, and they are typically categorized into current assets and non-current assets.
Curre... morent Assets:Current assets are those that are expected to be converted into cash or used up within one year or the operating cycle of the business, whichever is longer. They include cash and cash equivalents, accounts receivable, inventory, and prepaid expenses.
Non-Current Assets:Non-current assets, also known as long-term assets, are those that are not expected to be converted into cash or used up within one year. They include property, plant, and equipment, intangible assets, and investments.
Explanation of Options:a) Sundry debtors of 93,000:
Sundry debtors are individuals or entities who owe money to the company for goods or services provided on credit. They represent accounts receivable, which is a current asset. Therefore, option (a) can be presented on the asset side of the balance sheet.
b) Public deposits of 2,20,000:
Public deposits are funds received from the public for a specific period against a fixed rate of interest. They are considered as liabilities and not assets. Therefore, option (b) cannot be presented on the asset side of the balance sheet.
c) Livestock of 1,20,000:
Livestock represents tangible assets that are used in agricultural or farming activities. They can be classified as non-current assets if they are intended for long-term use. Therefore, option (c) can be presented on the asset side of the balance sheet.
d) Both (a) and (c):
As explained above, both option (a) and option (c) can be presented on the asset side of the balance sheet. Sundry debtors represent current assets, while livestock represents non-current assets.
Conclusion:Option (d) is the correct answer as both sundry debtors and livestock can be presented on the asset side of the balance sheet.