3 3) Items recorded under liability section.4 4) Movement of items recorded under liability section.5 5) Benefits and limitations of sources of funds.6 PART B7 Concept of small company, large company and reporting entity. The items that are recorded in owner's equity section of Wools Worth and Wesfarmers are as follows - Reserves - In financial accounting, reserves are the item that is recorded under owners’ equity section and contains a credit balance.