Help!! Where do supplies go under.. assets or liabilities??

Question

if in assets... does it go on current assets or fixed ...or other assets???

:'(
well here it tells me it's Mexican Supplies
Gun & roses
Mister Frog
...would they go under accounts payable for any reason???

Answer 1

If they are stuff you bought they should go under "expenditures".

Answer 2

If you purchased supplies and they are unused, they are an asset, supplies inventory. If you routinely use up your supplies on a regular basis, they are an expense. The only associated liability would be if you used a credit card or took out a loan to buy the supplies. Then you would have a credit card or loan liability.

Answer 3

Depends on what kind of supplies they are, and how decayed they've become.