by Ken Delaney-Moore, Sheffield Hallam University Aims: This worksheet deals with: 1. The difference between capital and revenue expenditure 2. The double-entry for assets and liabilities 3. The double-entry for expenses and revenues After having completed the worksheet you should be better able to understand these points. When you are done, please fill-in the on-line evaluation form in order for us to monitor the quality of the materials we provide for you. Tell us what we're doing right and wrong. It takes very little time, and your opinions are valued - thank you. Introduction In the previous worksheet ('The accounting equation') you may have noticed how the balance sheet changed appearance every time there was a transaction. In the real world it is simply not practical to re-write the balance sheet every time a transaction occurs; so we keep a separate account (page of detail) for every item you might find on the balance sheet. If we need to draw-up a balance ...