Unit 8

Balance Sheet As of
August 31st,2011
Assets Liabilities
Cash (bank 15,000 Accounts
Account). Payment 15,000
Accounts 25,000
Receivable 5,000
Inventory. 10,000 Total 40,000
Liabilities
Fixes Owner’s Equity
Assets. 100,000 Total Equity 95,000
Total Total
Assets 130,000 Liabilities and 130,000
Equity

Before you read the passage, talk about these questions.

1 What information goes on a balance sheet?
Assets = liabililies + Owner's Equity
2 How do companies use balance sheets?
Balance sheets, on the other hand, show
a company's financial status at a certain moment in time