Company accounts balance sheet format. Article summary setting up your balance sheet preparing the assets section preparing the liabilities section calculating owners equity and totals community qa 14 references along with the income statement and the statement of cash flows the balance sheet is one of the main financial statements of a business. It shows a companys assets liabilities and equity accounts. Prepare balance sheet template a balance sheet template is a blank format with header date categories and components of categories.
I would like to suggest that it is better to give balance sheet format separately for sole trading concern and company. Get videocon industries latest balance sheet financial statements and videocon industries detailed profit and loss accounts. The balance sheet is a hugely important report and is divided into three main segments assets often divided into current assets and fixed assets liabilities and shareholder equity or retained earnings known as capital and reserves in kashflow.
Inventory and prepaid expenses. It may be noted that in this format bs format is given for company where are revenue ac is given for a single proprietor. Under indian company act there is no need to prepare combined or consolidated final accounts of holding and subsidiary company in the books of holding company but holding company attaches the copy of balance sheet one copy of profit and loss account and one copy of audit report of subsidiary company with his final accounts.
The company spent a total of 7400 in cash leaving a balance of 42600 50000 7400. The balance sheet format helps the user by grouping these accounts into classes such as the function of the account the business use of the resources and whether resources and liabilities are short term or long term. The company now has two more assets on the company balance sheet.