Format for balance sheet, Financial Accounting

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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


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