October 12, 2007, Newsletter Issue #186: Sample Balance Sheet

Tip of the Week

ASSETS

Current Assets:
-Cash
-Accounts Receivable
-Less:
Reserve for Bad Debts
Merchandise Inventory
Prepaid Expenses
Notes Receivable
Total Current Assets

Fixed Assets:
-Vehicles
Less: Accumulated Depreciation
-Furniture and Fixtures
Less: Accumulated Depreciation
-Equipment
Less: Accumulated Depreciation
-Buildings
Less: Accumulated Depreciation
-Land
Total Fixed Assets

Other Assets:
-Goodwill
Total Other Assets

TOTAL ASSETS

~~~~~~~~~~~~~~~~~~~~~

LIABILITIES & CAPITAL

Current Liabilities:
-Accounts Payable
-Sales Taxes Payable
-Payroll Taxes Payable
-Accrued Wages Payable
-Unearned Revenues
-Short-Term Notes Payable
Total Current Liabilities

Long-Term Liabilities:
-Long-Term Notes Payable
-Mortgage Payable
Total Long-Term Liabilities

Total Liabilities

Capital:
-Owner´s Equity
-Net Profit
Total Capital

TOTAL LIABILITIES & CAPITAL

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