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Accounting Sydney | Examples of Balance sheet [statement of financial position]
The statement of financial position
My company
Statement of financial position
December 31, 2008
| Assets |
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2008 |
2007 |
| Current assets: |
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| Cash |
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$15,000 |
$12,000 |
| Accounts receivable |
1,500 |
1,000 |
| Prepaid insurance |
|
1000 |
1000 |
| Total current assets |
|
17,500 |
14,000 |
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| Non - current assets: |
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| Property plant and equipment |
100,000 |
200,000 |
| Total assets |
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117,500 |
214,000 |
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| Liabilities |
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| Current liabilities: |
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| Wages payable |
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10,000 |
9,000 |
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| Long term liabilities |
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| Mortgage |
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100,000 |
100,000 |
| Total liabilities |
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110,000 |
109,000 |
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| Total equity: |
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7,500 |
105,000 |
Where
Current assets: Cash or other resources that can be converted to cash during next fiscal year.
Non -current assets: resources that can be converted to cash beyond the next fiscal year
Current liability: obligation that the management expect to fulfil during next fiscal year.
Non current liability: obligation that the management expect to fulfil beyond the next fiscal year.
The above tips are provide by CAS-tax Accounting Sydney, Sydney accounting firm
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