Fillable Printable Basic Steps to Starting a Business
Fillable Printable Basic Steps to Starting a Business
Basic Steps to Starting a Business
Balance Sheet
A balance sheet is the third element of the basic financial statements that you will use in your business. It is a statement if what a business
owns, what it owes, and the residual value of the business as of a specific date. This is a basic outline of the most commonly accepted
form. It has three basic parts, assets, liabilities and your net worth, or equity.
Name of the Business
Balance Sheet
Date prepared
Assets
Current Assets
Cash in Bank $__________
Accounts Receivable $__________
Prepaid Insurance $__________
Pre-paid Expenses (Unused & Deposits) $__________
Inventory $__________
Total Current Assets $_________
Property and Equipment
Itemized $__________
Accumulated Depreciation $( )
Total $_________
Office Furniture and Equipment
Itemized $__________
Accumulated Depreciation $(_________)
Total $_________
Automotive Equipment $__________
Accumulated Depreciation $(_________)
Total $_________
Total Property and Equipment $_________
Total Assets $__________
Liabilities
Current
Accounts Payable $________
Taxes Payable $________
Total $_________
Long Term
Mortgages $________
Loans (Itemize each one) $________
Total $_________
Total Liabilities $__________
Owners Equity
Itemize $_______
Total Owners Equity $__________
Total Liability and Equity $__________
