Balance Sheet

How do we calculate Total Assets?

• Fixed Assets - Current Liabilities

• Current Assets / Current Liabilities

• Fixed Assets + Current Assets

• Fixed Assets - Current Assets

Whcih of the following consist of only assets?

• Car, Bank Loan, Computer

• Creditor, Debtors, Cash at Bank

• Debtors. Cash at bank, Building

• Cash in hand, cash at bank, creditors

Select the item which is a fixed asset

• 
• 

A _______________ is a resource that is owned by a business.

Select the item which is not a component of a balance sheet.

• Fixed Assets

• Current Assets

• Current Liabilities

• Expenses

Select which two items we use when we are calculating the Net Assets/ Working Capital

• Total Assets

• Financed by

• Capital

• Total Liabilities

Calculate the total assets?

Current Assets - $100.00

Fixed Assets - $200

Current Liabilities -$300

Capital - $100

• 300

• 400

• 500

• 200

Which item would represent a liability in a business?

• 
• 

Net Assets = Total Assets -

Which item do we always begin the preparation of the balance sheet with?

• The Capital

• The name of the sole trader or company

• The Date

• The Assets