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

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