Whats On a Balance Sheet

cash

asset

intangible assets

assets that do not have physical substance (other assets)

current assets

cash and other assets expected to be exchanged for cash or consumed within a year

prepaid expenses

expenses paid in cash before they are used or consumed (asset)

Inventory

the quantity of goods that a firm has on hand (asset)

Equipment

tools needed for an undertaking or to perform a service (property and equipment)

Less Accumulated Depreciation

total subtracted from the fixed worn equipment (property and equipment)

Accounts Receivable

Amounts to be received in the future due to the sale of goods or services, (asset)

Balance Sheet Equation

Assets = Liabilities + Stockholders' Equity

Land

all natural resources used to produce goods and services (property and equipment)

Balance Sheet

A financial statement that reports assets, liabilities, and owner's equity on a specific date.