• April 12th, 2016

The Sections in Balance Sheet

Paper, Order, or Assignment Requirements

  1. Organize the items into their various sections in a balance sheet

    Retained Earnings

    Earnings

    Total Capital

    Total Liabilities and Capital

    Net Worth

    Total Current Assets

    Subtotal Current Liabilities

    Long-term Liabilities

    Total Liabilities

    Current Assets

    Cash

    Inventory

    Total Long-term Assets

    Current Liabilities

    Accounts Payable

    Current Borrowing

    Other Current Liabilities

    Paid-in Capital

    Liabilities and Capital

    Assets

    Long-term Assets

    Total Assets

    Other Current Assets

    2. Why do businesses create financial statements?

    3. Why is the owner’s equity very important in financial statements?

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