Thursday, April 24, 2008

Accounting Balance Sheet Example

An accounting balance sheet displays a company’s assets and claims to those assets by creditors and owners at a specific point in time. It is a summary of the accounting equation. The balance sheet has a similar property to the accounting equation in that the total of assets reported on the balance sheet must equal the combined total of liabilities and owners’ equity. This always must be true.

Example Bookkeeping Balance Sheet:




Text Version of Accounting Balance Sheet:

New York Business Car Company
Balance Sheet
At January 31, 2008

Assets
Cash $ 10,300
Merchandise Inventory $ 1,400
Equipment $ 32,000
Total Assets $ 43,700

Liabilities and Owner’s Equity
Notes Payable $ 30,000
Contributed Capital $ 12,000
Retained Earnings $ 1,700
Total Liabilities and Owner’s Equity $ 43,700

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1 comment:

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