What is A Balance SheetWhat is a balance sheet? A balance sheet is a breakdown of your assets, liabilities and equity as of a given date. It gives you a snapshot view of how much your company is worth as of the date of the statement. It must be balanced using the following equation: assets = liabilities + equity. Another way of looking at this is your equity or net worth is equal to your assets minus your liabilities. The balance in all asset accounts are listed first on the balance sheet, then liabilities and finally the balance in all equity accounts. Helpful Related Topics Basic Balance Sheet Example
Return from What is a Balance Sheet to Four Basic Financial Statements
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