With reference to the Conceptual Framework(AUS), identify and explain the elements of the Balance Sheet. In your answer define in your own words the elements, and provide one or two examples of each element from the financial statements ?of Charlies Camping Adventures that you have prepared.

Balance Sheet Charlie's Camping Adventures As at 31st May 2017 Assets Bank Petty Cash 243 621.01 100.00 13 850.00 15 200.00 (4 780.00) 82 000.00 Accounts Receivable Office Equipment Accumulated Depreciation Vehicles Accumulated Depreciation 12 920.00 Total Assets 337 071.01 Liabilities Accounts Payable Total Liabilities 2 017.5:5 2 017.55 S335 053.46 Equity Contributed Capital Retained Earnings Retained earnings for the current year Total Equity 100 000.00 35 926.06 199 127.40 S335 053.46