BALANCE SHEET
ASSETS
Current Assets:
1. Cash ________
2. Accounts Receivable ________
3. Inventory - (Finished Goods or Product in
Process) ________
4. Prepaid Expenses (e.g. security deposit,
1 yr. insurance premium) ________
5. Other current assets (list) ________
6. TOTAL CURRENT ASSETS (Total 1 through 5) ________
Fixed Assets:
7. Land ________
8. Buildings ________
9. Machinery & Equipment ________
10. Furniture, fixtures ________
11. Vehicles ________
12. Less: Accumulated Depreciation (8 through 11
less depreciation) ________
13. TOTAL FIXED ASSETS (Total of 7 through 11 - 13) ________
14. Other Assets (List) ________
15. TOTAL ASSETS (6 + 13 + 14) ________
________
LIABILITIES AND NET WORTH
Current Liabilities:
16. Accounts Payable ________
17. Short-term Notes Payable ________
18. Long-term Notes Payable (Current Portion) ________
19. Taxes Payable ________
20. Accrued Payroll ________
21. TOTAL CURRENT LIABILITIES (16 through 20) ________
Long Term Liabilities:
22. Mortgages Payable ________
23. Notes Payable (Long-Term Portion) ________
24. TOTAL LONG-TERM DEBT (22 + 23) ________
25. TOTAL LIABILITIES (21 + 24) ________
Equity:
26. Total Owner's Equity (Proprietorship) ________
27. ____________, Partners Equity (Partnership) ________
28. ____________ Partners Equity ________
29. Shareholder Equity - Capital Stock ________
30. Retained Earnings ________
31. TOTAL CAPITAL/EQUITY (26 + 27 + 28 + 29 + 30) ________
32. TOTAL LIABILITIES & EQUITY (25 + 31) ________
________
Assets Anything of value that is owned or legally
due the business.
Current Assets Cash and resources that can be converted into
cash within 12 months of the date of the
Balance Sheet.
1. Cash Cash in the bank, United States government
securities, money in the till, and petty cash
fund.
2. Accounts Receivable Amounts due from customers in payment for
merchandise or services.
3. Inventory Includes raw materials on hand, work in
process, and all finished goods either
manufactured or purchased for resale.
4. Prepaid Expenses Goods, benefits, or services a business buys
or rents in advance of use. Examples are
office supplies, insurance protection, and
floor space.
5. Other Interest- or dividend-yielding holdings
expected to be converted into cash within a
year. Also called marketable securities or
short-term investments, they include stocks
and bonds, certificates of deposit, and time
deposit savings accounts. List on the
Balance List Sheet at either their cost or
market value, whichever is less.
6. Total Current Assets Self explanatory
Fixed Assets Resources a business owns or acquires for use
in operations and does not intend for resale.
7. Land Listed at its original purchase price, with
no allowance for appreciation or
depreciation.
8. Building Property owned and used by the business
9. Machinery/Equipment Used by the business. Listed at original
cost.
10. Furniture/Fixture Furniture used in business or permanent
installations--remodeling or refurbishing of
the premises.
11. Vehicles Used by the business. Listed at original
cost.
12. Less Accumulated Total assets (except land) lose value through
Depreciation wear, tear and age. The business claims this
loss of value as an expense of doing
business. The running total of this expense
is the accumulated depreciation.
13. Total Fixed Assets Self explanatory
14. Other Assets Resources not listed with any of the above
assets. Examples include tangibles such as
outdated equipment salable to the scrap yard,
and intangibles such as trademarks and
goodwill.
15. Total Assets Self explanatory
Liabilities All monetary obligations of a business and
all claims creditors have on its assets.
Current Liabilities All debts and obligations payable within 12
months.
16. Accounts Payable Amounts owed to suppliers for goods and
services purchased in connection with
business operations.
17. Short-Term Notes The balance of principal due to pay off
short-term debt or borrowed funds.
18. Long-Term Notes Current amount due of total balance on notes
whose terms exceed 12 months.
19. Taxes Payable Amounts owed for real estate taxes, social
security, and income taxes.
20. Accrued Payroll Salaries and wages currently owed.
21. Total Current Self explanatory
Liabilities
Long Term Liabilities Those debts such as mortgage payable and
bonds payable that are not due for a
relatively long period of time, usually more
than one year.
22. Mortgages Payable Balance owed on property
23. Notes Payable Balance owed on long term notes
24. Total Long-Term Debt Self explanatory
25. Total Liabilities Self explanatory
Equity Also called net worth. Equity is the claim
of the owner(s) on the assets of the
business.
26. Total Owner's Equity Proprietor's original investment
27. Partners Equity Amount of each partner's investment.
28. Partners Equity Amount of each partner's investment.
29. Shareholder Equity In a corporation, the owners are the
shareholders. The corporation's equity is
the sum of contributions from sale of stock.
30. Retained Earnings Profits reinvested in the business.
31. Total Capital/Equity Self explanatory
32. Total Liabilities & Self explanatory - should equal total assets
Equity