FORMAT FOR BALANCE SHEET

The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship.  However, the “capital section will change to reflect the capital contribution by each partner..

Example of a balance sheet where there are 3 partners A, B and C.

Non Current assets	Cost (Shs)	Depreciation (Shs)	NBV (Shs)
Land & Buildings	X	X	X
Fixtures & Fittings	X	X	X
Plant & Machinery	X	X	X
Motor Vehicles	X	X	X
	XX	XX	XX
Investments, goodwill etc			X
Current Assets
Inventory		X
Receivables	X
Less provision for bad  and doubtful debts	(X)	X
Prepayments		X
Bank		X
Cash		X
		X
Current Liabilities
Payables	X
Accruals	X	(X)
Working capital (C.A – C.L)			X
			XX
Financed by:
Capitals:  A			X
B			X
C			X
			X
Current A/Cs:  A		X
B		X
C		(X)	X
			X
Long term loans			X
			XX

Posted Date: 12/11/2012 5:51:11 AM | Location : United States

Ask an Expert

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

Write discussion on Format for balance sheet
Your posts are moderated

Write your message here..

Related Questions

Leases, Company A(lessee) will rent inventory for you for 3 years rather th... Company A(lessee) will rent inventory for you for 3 years rather than buying it for the regular price of $240,000. Normally these units, which cost us $120,000 to produce, will las

Ethic , i need you to answer my cases i need you to answer my cases

Factoring and invoice discounting, The cash flow as well as other benefits ... The cash flow as well as other benefits of factoring was discussed earlier. Invoice discounting as well offers cash flow advantages. Here selected invoices of superior quality are

Estimation of current cost of debt, Q. Estimation of current cost of debt? ... Q. Estimation of current cost of debt? The debenture will be used to estimation the current cost of debt as it is the only marketable debt. The present market value of the debe

A prior period adjustment, Q. A prior period adjustment that corrects incom... Q. A prior period adjustment that corrects income of a prior period requires that an entry be made to a. an income statement account. b. a current year revenue or expense account.

What is short sale, Q. What is Short Sale? Short Sale - Sale of an item... Q. What is Short Sale? Short Sale - Sale of an item before it is purchased. A person entering into a short sale believes that the price of item will decline between date of the

Leverage, Evaluate the importance of leverage in financial management of a ... Evaluate the importance of leverage in financial management of a small scale company

A net loss resluts in a decrease in, A net loss resluts in a decrease in: a... A net loss resluts in a decrease in: a. Revenues b. Expenses c. Stockholder's Equity d. Liabilities

What is primary financial purpose, Q. What is primary financial purpose? ... Q. What is primary financial purpose? The primary financial purpose of a company is typically stated to be the maximisation of shareholder wealth and Sassone plc has declared p

Analysis of the financial results, An introduction to the company, which fo... An introduction to the company, which focuses on the context in which the company operates: • Ownership, development and location; • Resources, processes and employment; •