Acct Sept. 12
Published on Nov 19, 2015
No Description
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
one of most important things in accounting
is showing the financial position of a person or business
Photo by David Paul Ohmer
List and total your debts
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any volunteers?
Photo by Joshua Daniel O.
Assets = Things you have of value
Liability = Money you owe
Owner's Equity = How much you own after liabilities
A balance sheet is a statement showing the financial position of a person, business, or organization.
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Assets generally listed in order of liquidity
liquidity is the order in which assets are are converted into cash
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Financial details of any and all items listed
even things you wouldn't really think about such as mortgage
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a debtor is anyone who owes money to the business
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4. owner's equity below liabilities, underlined
owner's name and the word 'Capital' beside it
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ON FIRST FULLY OPEN LINE, 'TOTAL ASSETS' ON LEFT 'TOTAL LIABILITIES AND EQUITY' ON RIGHT. TWO TOTALS MUST BE THE SAME, SINGLE LIKE ABOVE AND DOUBLE LINE BELOW EACH OF THE TWO TOTALS!
6. DOLLAR SIGN PLACD WITH FIRST AMOUNT
IN EVERY COLUMN. ALSO FOR EACH SINGLE-RULED LINE.
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Abbreviate only when included in business name
melkonian company would not be melkonian co.
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using column paper
Photo by Matt. Create.
