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Marques Simpson
22 May, 22:34
How to do a balance sheet?
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Yandel Becker
22 May, 23:48
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Balance sheet is a statement of all your assets, liabilities, and your capital.
List down all your assets, liabilities, and capital or equity.
Total Assets = Total Liabilities + Owner's Equity
Total Assets include: land, buildings, inventory, cash, account receivables, etc.
Total Liabilities include: accounts payable, notes payable, allowance for depreciation, etc.
Owner's equity: capital/stocks, withdrawal, additional capital, etc.
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