Your Balance Sheet Example is a quick view of the financial state of your business at a specific time period.
It outlines the Assets, Liabilityand Equity of your business.
Your balance sheet should list your current assets such as the cash, accounts receivable, supplies, land, buildings and any other assets your business have.
It should also list your liabilities and equities. Your liabilities should list things such as your accounts payable.
Your equity should list things such as your capital.
When you prepare your Balance Sheet you will need to list your assets down on one side and then you will list your liabilities on the other side.
Assets are things your business has ownership of.
Liabilities are the debts your business owes on.
You need to make a note of what your business assets are and what your business liabilities are.
Then you need to write them down. You need to balance your balance sheet.
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