Taking Your Spiritual Balance Sheet Name

Scripture quotations are from the New International Version.

In the same way, count* yourselves dead to sin but alive to God in Christ Jesus —
Romans 6:11
*count [λογιζοµαι (logizomai)] also means to take inventory.

This exercise is designed to use the accounting equation to give a new perspective to your
spiritual condition. The accounting equation is Assets = Liabilities + Owners' Equity. Set up the
accounting equation with your spiritual assets (your good works) and your spiritual liabilities
(your sins). The Bible refers to sins as debts, since we owe it to God to make up for what we
have done. See Matthew 6:12, NIV.
If your good deeds outweigh your sins, you'll have a credit balance in your spiritual capital
account: Good Works – Sins = Spiritual Capital. "The righteousness of the righteous man will be
credited to him, and the wickedness of the wicked man will be charged against him." — Ezekiel
18:20b.

Assets – Liabilities = Owners' Equity

Good Works – Sins = Spiritual Capital

OK so far.

According to Isaiah 64:6, what are my good works like? Do they amount to much of an asset?
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So now, your spiritual balance sheet looks like this:

Assets less Liabilities = Owners' Equity

Filthy Rags less Sins = Spiritual Capital

This doesn't look good! But maybe I'll be okay since I don't have any sins to worry about. Or do
I? According to Romans 3:10–12 and 3:23, do I, or do I not, have sin in my life?
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According to Ecclesiastes 7:20, is it possible that I am righteous and never sin?
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If my spiritual T–account is full of debt, and has no assets, would my spiritual capital be positive
or negative?

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According to Psalm 49:7–9, could I pay God for my sins—could I do enough good works to
make up for them?
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This looks pretty grim, but there's hope. According to Genesis 15:6 and Romans 4:3, how did
Abraham have righteousness credited to his account?
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If someone does a job for you, and you have not yet paid him, you owe him the payment—a
credit to Wages Payable. According to Romans 4:4 and 4:23–24, my spiritual capital account is
not credited because of my works, but because of what?
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But if I didn't do the work, who did? According to the Bible, God sent his Son, Jesus Christ, to
live on our behalf the perfect life that we could not live. The righteousness that Jesus earned by
his perfect life can be credited to our account. And, with his death on the cross, the punishment
that we deserved from God was paid for.
If we put our faith in Jesus, God will forgive our sin. According to Colossians 2:13–14, what
happens to our spiritual debt—the written list of all our sins—when we trust in Christ?
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According to 1 Peter 1:18–19, what did God use to pay for our sin—to buy us back from
spiritual death and redeem us?
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According to Romans 14:7–8, if God has redeemed us and paid for us, who owns us? To whom
do we belong?
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Now our spiritual balance sheet becomes:

Assets = Liabilities + Owners' Equity

The righteousness of Christ's blood covers our sin. We belong to God and are given
Christ becomes our Our sin is canceled and nailed credit for all of the merit earned by
own. to the cross. Jesus on our behalf.

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Which balance sheet looks better to you? Filthy rags and a sin–debt that can't be paid? Or the
righteousness and merit of Jesus Christ? The choice is up to you. How do you intend to apply
this lesson to your life? How do you intend to apply this lesson to your life?
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