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Financial statement that shows the changes in cash value of Shareholders' Equity, Assets, owned by Business and Liabilities imposed on the Assets, owned by Business over the Accounting Period.
Current Assets | Current Liabilities |
Fixed Assets | Long-Term Liabilities |
Total Assets | Total Liabilities |
Equity | |
Total Assets | Equity + Total Liabilities |
The statement is balanced when Total Assets = Equity + Total Liabilities.
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Assets (current) | Liabilities and Owners' Equity | |||
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Cash | $6,600 | Liabilities | ||
Accounts Receivable | $6,200 | Notes Payable | $5,000 | |
Assets (non-current) | Accounts Payable | $25,000 | ||
Tools and equipment | $25,000 | Total liabilities | $30,000 | |
Owners' equity | ||||
Capital Stock | $7,000 | |||
Retained Earnings | $800 | |||
Total owners' equity | $7,800 | |||
Total | $37,800 | Total | $37,800 |
See also
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Business / Business Administration / Financial Management / Financial Accounting / Financial Statement
[ Profit and Loss (P&L) ] [ Cash Flow ] [ Balance sheet ] [ Changes in Equity ]
[ Asset ] [ Current Assets ] [ Fixed Assets ]
[ Liabilities ] [ Current Liabilities ][ Long-Term Liabilities ]
[ Accounting Equation ] [ Equity ]
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