UK Balance sheet category help

[matthew price]

Hello, apologies if this is in the wrong section.

Ihave just started studying finance at post grad level in the UK, and one of my seminar questions is this:

1. The following is an extract of Crafty Engineering Ltd financial records at 31 June 2011:
£’000
Trade payables 86,000

Bank overdraft 116,000

Motor vehicles 38,000

Inventories 153,000

Borrowings from bank 260,000

Freehold premises 320,000

Machinery and tool 207,000

Trade receivables 185,000

Required:
a. Classify the above items into one of these categories: Assets (A), Liabilities (L) or Capital (C).
b. Use the balance sheet equation to deduce the missing item in the above financial records.

Am i correct in saying that the items on that list all fall into either assets or liabilities, and that there are no item of capital? Any help would be gratefully received

thanks in advance

 

[Fidget]

You're correct for part a) of the requirement: three items on the list are liabilities and the rest are assets. The missing item for part b) is the figure for Capital, which you can work out from your answer to part a).