ASSETS (1) |
LIABILITIES (10) |
| Current Assets (2) | Current Liabilities (11) | ||
| Cash | $__________ | Accounts Payable (12) | $__________ |
| Account Reveivables (3) | $__________ | Short Term Notes (13) | $__________ |
|
Net Realizable A/R
|
$__________ | Current Position of Long Term Notes (14) | $__________ |
| Inventory (4) | $__________ | Interest Payable (15) | $__________ |
| Temporary Investments (5) | $__________ | Taxes Payable (16) | $__________ |
| Prepaid Expenses (6) | $__________ | Accrued Payroll (17) | $__________ |
| TOTAL CURRENT ASSETS | $__________ | TOTAL CURRENT LIABILITIES: | $__________ |
| Long Term Investments (7) | $__________ | Long Term liabilities (18) | |
| TOTAL INVESTMENTS | $__________ | Notes Payable | $__________ |
| Fixed Assets (8) | Total Long Term Liabilities | $__________ | |
| Land | $__________ | TOTAL LIABILITIES | $__________ |
| Building @ Cost | $__________ | Equity (19) | $__________ |
|
LESS Accumulated depreciation
|
-$__________ | Total Owner's Equity (proprietor) | $__________ |
|
Net Book Value of Building
|
$__________ | Total Partners Equity (If Any) | $__________ |
| Equipment @ cost | $__________ | Total Shareholders Equity (If Corporation) | $__________ |
|
LESS Accumulated depreciation
|
-$__________ | Capital Stock (If Corporation) | $__________ |
|
Net Book Value of Equipment
|
$__________ | Capital Paid in excess of Par | $__________ |
| Funiture and Fixtures @ Cost | $__________ | Retained Earnings | $__________ |
|
LESS Accumulated depreciation
|
-$__________ | TOTAL SHAREHOLDERS EQUITY | $__________ |
|
Net Book Value of F&F
|
$__________ | TOTAL LIABILITIES AND EQUITY (20) | $__________ |
| Auto/Trucks @ Cost | $__________ | Reconcilement of Equity (21) | |
|
LESS Accumulated depreciation
|
-$__________ | Equity at beginning of Period | $__________ |
| Net Book Value of Auto/Trucks | $__________ | Plus Net Income or Less Net Loss | $__________ |
| Total Net Fixed Assets | $__________ | Plus Additional Capital Contribution | $__________ |
| Other Assets (9) Attach List | $__________ | Less Total Deductions | $__________ |
| TOTAL ASSETS | $__________ | Equity on Current Balance Sheet | $__________ |
| 1. | Assets | Anything of value that is owned or legally due the business. Total
Assets include all net realizable and net book values. Net realizable
and net book values are amounts derived by subtracting any estimated
allowances for doubtful accounts, depreciation, and reduction of future
services such as amortization of a premium during the term of an
insurance policy from the acquisition price of the assets. (Return to Balance Sheet) |
| 2. | Current Assets | Cash and resources that can be converted into cash within 12 month
of the date of the Balance sheet. Besides cash (money on hand and demand
deposits in the bank), resources include the following: (Return to Balance Sheet) |
| 3. | ACCOUNTS RECEIVABLES | The amount due from customers in payments for good or services. (Return to Balance Sheet) |
| 4.. | Inventory | Includes raw material on hand, work in process, and all finished
goods either manufactured or purchased for resale. (Return to Balance Sheet) |
| 5. | Temporary Investments | Interest or dividend yielding holdings expected to be converted
into cash within a year. Also called MARKETABLE SECURITIES or
SHORT-TERM INVESTMENTS, including stocks and bonds, certificates of
deposits, and time deposit savings accounts. Should be listed on the
balance sheet at either their cost or market value, whichever is less. (Return to Balance Sheet) |
| 6. | Prepaid Expenses | Goods, benefits, or services a business buys or rents in advance of
use, such as office supplies, insurance protection and floor space. (Return to Balance Sheet) |
| 7. | Long Term Investments | Holdings the business intends to keep for at least a year and that
usually yield interest or dividends. These include stocks, bonds and
savings accounts earmarked for a special purpose. (Return to Balance Sheet) |
| 8. | Fixed Assets | The resources the business owns or acquires for the purpose of
operations and does not intend to resale. Land is listed at original
purchase price, with no allowance for appreciation or depreciation.
Other fixed assets are listed at cost less depreciation Fixed
assets may be leased. Depending on the arrangement, both the value and
the liability of the leased property may need to be listed on the
Balance Sheet. (Return to Balance Sheet) |
| 9. | Other Assets | Resources not listed with any of the above assets. These include
tangibles such as outdated equipment salable to the junk yard, and
intangibles such as trademarks. (Return to Balance Sheet) |
| 10. | Liabilities | All monetary obligations of a business and all claims creditors
have on its assets. Typically they include: (Return to Balance Sheet) |
| 11. | Current Liabilities | All debts and obligations payable within 12 months or within one
cycle of operations. (Return to Balance Sheet) |
| 12. | Accounts Payable | Amounts owed to suppliers for good and services purchased in
connection with business operations. (Return to Balance Sheet) |
| 13. | Short Term Notes |
The balance of principal due to pay off short-term debts for
borrowed funds. (Return to Balance Sheet) |
| 14. | Current Portion of Long Term Notes |
Current amount due of total balance on notes whose terms exceed 12
month. (Return to Balance Sheet) |
| 15. | Interest Payable | Any accrued fees due for use of both short term and long term
borrowed capital and credit extended to the business. (Return to Balance Sheet) |
| 16. | Taxes Payable | Amounts estimated by an accountant to have been incurred during the
accounting period. (Return to Balance Sheet) |
| 17. | Accrued Payroll | Salaries and wages currently owed. (Return to Balance Sheet) |
| 18. | Long Term Liabilities | Notes, contract payments or mortgage payments due over a period
exceeding 12 month or one cycle of operations. They are listed by
outstanding balances, less the current portion due. (Return to Balance Sheet) |
| 19. | Equity | Equity is the claim of the owner(s) on the assets of the business.
In a proprietorship or partnership, equity is the owners original
investment plus any earnings after withdrawals. In a corporation, the owners are the shareholders. The corporation's equity is the sum of contributions plus earnings retained (Return to Balance Sheet) |
| 20. | Total Liability and Equity | The sum of these two amounts must always match that for TOTAL
ASSETS. In other words, they must BALANCE. This is why its called a
BALANCE SHEET. (Return to Balance Sheet) |
| 21. | Reconcilment of Equity | Used for proprietorships and partnerships, this report reconciles
the equity shown on the current balance sheet. it records equity at the
beginning of the accounting period and details additions or subtractions
from this amount made during the period. Typically, additions and
subtractions are net income or loss and owner contributions and/or
deductions For corporations, the same type of report is called the STATEMENT OF RETAINED EARNINGS. It lists increases or decreases in this accumulated net income since the beginning of the current period (Return to Balance Sheet) |