| Balance Sheet Sample
[Your Business Name]
Balance Sheet
[Date (Month Day, Year)] |
|
Assets
Current Assets: |
|
Cash
Accounts Receivable
Inventory
Prepaid Expenses
Notes Receivable
Total Current Assets
Fixed Assets:
Property, Plant and Equipment
Furniture and Fixtures
Total Fixed Assets
Total Assets |
$ 2,000
350
565
1,095
450
$ 4,460
$ 3,450
180
$ 3,630
$ 8,090 |
[line 1]
[line 2]
[line 3]
[line 4]
[line 5]
Sum [lines 1-5]
[line 6]
[line 7]
Sum [line 6-7]
Sum Total Assets |
| |
|
Liabilities and Capital
Current Liabilities: |
|
Accounts Payable
Unearned Revenues
Short-term Notes Payable
Short-term Bank Loan Payable
Total Current Liabilities
Long-Term Liabilities:
Long-term Notes Payable
Mortgage Payable
Long-Term Liabilities
Total Liabilities
Capital:
Owner’s Equity
Net Profit
Total Capital
Total Liabilities and Capital |
$ 1,740
320
395
1,750
$ 4,205
$ 980
1,850
$ 2,830
$ 7,035
$ 455
600
$ 1,055
$ 8,090 |
[line 8]
[line 9]
[line 10]
[line 11]
Sum [lines 8-11]
[line 12]
[line 13]
Sum [line 12-13]
Sum Total Liab.
[line 14]
[line 15]
Sum [line 14-15]
Sum Tot.
Liab. & Cap. |
| |
|
Balance Sheet Exercise
Put your Balance Sheet knowledge to the test! Come up with your own business name and use the following information to complete the Balance Sheet! Good Luck!!
Date to use for Balance Sheet: December 31, 2004
You have the following assets: |
|
Cash = $490
Accounts Receivable = $230
Inventory = $200
Property = $300
Plant = $1,020
Equipment = $140
Furniture and Fixtures = $60
You don’t have any prepaid expenses or notes receivable.
You have only the following liabilities:
Accounts Payable (for all the goods you charged with a credit card) = $170
Short-term Bank Loan Payable (the 1-year loan you got from the bank) = $450
Mortgage Payable (the mortgage for your property, plant, etc.) = $1,460
Your capital includes a net profit of $360 |
| |
| Balance Sheet Answers
[Your Business Name]
Balance Sheet
December 31, 2004 |
|
Assets
Current Assets: |
|
Cash
Accounts Receivable
Inventory
Total Current Assets
Fixed Assets:
Property, Plant and Equipment ($300 + $1,020 + $140)
Furniture and Fixtures
Total Fixed Assets
Total Assets |
$ 490
230
200
$ 920
$ 1,460
60
$ 1,520
$ 2,440 |
[line 1]
[line 2]
[line 3]
Sum [lines 1-3]
[line 4]
[line 5]
Sum [line 4-5]
Sum Total Assets |
| |
|
Liabilities and Capital
Current Liabilities: |
|
Accounts Payable
Short-term Bank Loan Payable
Total Current Liabilities
Long-Term Liabilities:
Mortgage Payable
Long-Term Liabilities
Total Liabilities
Capital:
Net Profit
Total Capital
Total Liabilities and Capital
|
$ 170
450
$ 620
$ 1,460
$ 1,460
$ 2,080
$ 360
$ 360
$ 2,440 |
[line 6]
[line 7]
Sum [lines 6-7]
[line 8]
Sum [line 8]
Sum Total Liab.
[line 9]
Sum [line 9]
Sum Tot.
Liab. & Cap. |