What Accounts Appear on a Balance Sheet?
A balance sheet is a document used by small businesses to gain a clear picture of its current financial condition. It lists each of the organization’s assets and liabilities. An asset is anything the firm owns that has monetary value. Examples of this include cash, stocks and real estate. A liability is any claim that a debtor has against those assets, such as the mortgage on a business’ offices or a credit card with an outstanding balance. An individual compiling a balance sheet will include all accounts that a company maintains.
Original Article Source Credits: Chron , https://smallbusiness.chron.com/
Article Written By: KJ Henderson
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