| Balance Sheet As At |
DD MMM YYYY |
| Balance Sheet Formula |
Assets = Liabilities + Equity |
Section A
<aside>
<img src="/icons/info-alternate_gray.svg" alt="/icons/info-alternate_gray.svg" width="40px" /> ASSETS
| Non-Current |
Remarks |
Amount |
| Fixed Assets |
Equipment such as laptop |
$0 |
| Current |
Remarks |
Amount |
| Cash |
|
$1,000 |
| Accounts Receivables |
Amount owed by others |
$0 |
| Inventory |
Unsold products |
$0 |
| Total Assets |
$1,000 |
| </aside> |
|
Section B
<aside>
<img src="/icons/info-alternate_gray.svg" alt="/icons/info-alternate_gray.svg" width="40px" /> LIABILITIES
| Non-Current |
Remarks |
Amount |
| Long-Term Loan |
> 1 year e.g. bank loan |
$0 |
| Current |
Remarks |
Amount |
| Credit Card Debt |
< 1 month |
$0 |
| Short-Term Loan |
< 1 year e.g. bank loan |
$0 |
| Accounts Payable |
Amount we owe vendors |
$0 |
| Total Liabilities |
$0 |
| </aside> |
|
Section C
<aside>
<img src="/icons/info-alternate_gray.svg" alt="/icons/info-alternate_gray.svg" width="40px" /> PROPRIETOR’S FUNDS / OWNER’S EQUITY
| Item |
Remarks |
Amount |
| Capital |
|
$0 |
| Retained Profits |
Total income retained by the business that can be reinvested back into the business or withdrawn by me |
$1,000 |
| Current Year Profit |
See Appendix 7 |
$500 |
| Member Contributions less Drawings |
Contributions |
|
- Money I put into the business
Drawings
- Money I pulled out of business | ($500) |
| Total Proprietor’s Funds / Owner’s Equity |
$1,000 |
| </aside> |
|
| Prepared By |
|
| Name |
|
| Designation |
|
| Date |
|
| Signature |
|
| Certified Correct By |
|
| Name |
|
| Designation |
|
| Date |
|
| Signature |
|
<aside>
<img src="/icons/info-alternate_gray.svg" alt="/icons/info-alternate_gray.svg" width="40px" /> In a correctly computed balance sheet, total assets should equal to total liabilities and proprietor’s funds / owner’s equity. Sample data included to illustrate the usage.
</aside>
<aside>
<img src="/icons/info-alternate_gray.svg" alt="/icons/info-alternate_gray.svg" width="40px" /> Need help understanding balance sheets?
→ https://www.youtube.com/watch?v=Yv1W683IaVc
</aside>