Below is a draft balance sheet which Circulars accountant is planning to fill in. Where would she put the following items?

a) A bank overdraft, repayable on demand

b) Twelve tonnes of pizza dough

c) A bank loan, repayable in five years

d) Invoices for payable from a supplier of garlic and tomato paste

e) Taxes for the current year payable in nine months time

f) An oven and two delivery bikes

g) A bill (unpaid) for pizzas delivered to a Christmas party

h) An order to purchase plant and equipment

Note that this is not a question on double-entry accounting. You simply need to tell me whether each item should be on the balance sheet and if yes where.

Balance Sheet

CURRENT ASSETS
Cash
Accounts Receivable
Inventory
LONG-TERM ASSETS
Plant and Machinery
CURRENT LIABILITIES
Bank Overdraft
Accounts Payable
Tax Payable
Dividends Payable
Other Payable
LONG TERM LIABILITIES
Bank Loan
NET ASSETS
SHAREHOLDERS EQUITY
Common Stock
Retained Earnings
TOTAL LIABILITIES AND EQUITY