Issue link: https://docs.hic.us/i/403552
A A T T T T A A C C H H M M E E N N T T H H T T H H E E B B U U S S I I N N E E S S S S B B A A L L A A N N C C E E S S H H E E E E T T Figures used to compile the balance sheet are taken from the previous and current balance sheet as well as the current income statement. The income statement is usually attached to the balance sheet. The following text covers the essential elements of the balance sheet. At the top of the page fill in the legal name of the business, the type of statement and the day, month and year. I. Assets List anything of value that is owned or legally due the business. Total assets include all net values. These are the amounts derived when you subtract depreciation and amortization from the original costs of acquiring the assets. A. Current Assets Cash- List cash and resources that can be converted into cash within 12 months of the date of the balance sheet (or during one established cycle of operation). Include money on hand and demand deposits in the bank, e.g., checking accounts and regular savings accounts. Petty cash - If your business has a fund for small miscellaneous expenditures, include the total here. Accounts receivable - The amounts due from customers in payment for merchandise or services. Inventory - Includes raw materials on hand, work in progress and all finished goods, either manufactured or purchased for resale. B. Short-term Investments Also called temporary investments or marketable securities, these are holdings that the business expects to keep for less than one year and that typically yield interest or dividends. Interest or Dividend-Yielding Holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market value, whichever is less. www.hsi.us care@hic.us 97