Define balance sheet, Accounting Basics

Balance Sheet

A balance sheet is a statement for presenting an organization financial position at a particular date, mostly at the end of an accounting period; also called a statement of financial position. The balance sheet, which represents a picture at one point in time of an organizations financial standing, shows an organizations resources the amount it owes creditors, and ownership value. Balance sheets categorize organization assets, liabilities, and stockholders' equity according to the following formula:

Assets = liabilities + shareholders' equity

Posted Date: 10/15/2012 2:35:58 AM | Location : United States







Related Discussions:- Define balance sheet, Assignment Help, Ask Question on Define balance sheet, Get Answer, Expert's Help, Define balance sheet Discussions

Write discussion on Define balance sheet
Your posts are moderated
Related Questions
On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca


define accounting.Briefly explain the accounting concepts which guide the accountant at the recording stage.

The type of accounting concerned with providing information and analyses to managers within the organization is referred to as

Why is a provision for depreciation made in the financial statements? A to charge the cost of non-current assets against profits B to make a provision for repairs C to mak

I purchased equipment for 3,000 but only paid 1,000 of it and put rest of it on an account. how would I put that into a asset=liabilities+ owns equity equation?

Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation

a decrease in owner''s equity may result from a(n) a. purchase of office supplies for cash b. withdrawal of cash from the business by owner c. revenue that is derived from sales of

Q. Explain about Accountants record expenditures? Accountants record expenditures on physical resources such like buildings, land and equipment that benefit future periods as a

Accounting Errors-Transaction Errors How would the following errors affect the account balances and the basic accounting equation, Assets = Liabilities + Owners' Equity? How do the