Balance Sheets JMA

What is a balance sheet?

• Shows what is owned and what is owed

• Shows how much a business is worth

• Shows profits and losses

• Shows the plans the business has for the future

What are the two types of assets?

What are the two types of liabilites?

Stock is an example of

• Fixed Asset

• Current Asset

• Current Liability

• Long Term Liability

A Computer is an example of

• Fixed Asset

• Current Asset

• Current Liability

• Long Term Liability

An overdraft is an example of

• Fixed Asset

• Current Asset

• Current Liability

• Long Term Liability

Cash is an example of

• Fixed Asset

• Current Asset

• Current Liability

• Long Term Liability

Bank Loan is an example of

• Fixed Asset

• Current Asset

• Current Liability

• Long Term Liability

Debtors (Trade receivables) is an example of

• Fixed Asset

• Current Asset

• Current Liability

• Long Term Liability

Creditors (Trade payables) is an example of

• Fixed Asset

• Current Asset

• Current Liability

• Long Term Liability