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WebOnly Expenses and Income go to the SPL. Assets and Liabilities (anything that isn't an expense or income) go to the SOFP. ie, Equipment at cost, VAT, a loan, Accumulated … WebThe SOFP will not contain any assets or liabilities of the subsidiary since it has been sold. Therefore, similar to the issues noted above, any ratios combining information from the … Web19 May 2024 · In accounting, these payments or prepaid expenses are recorded as assets on the balance sheet. Once incurred, the asset account is reduced, and the expense is … can you use an inswing door as an outswing