Balance Sheet Format

Final Accounts Part 3 Balance Sheet Definitions and Concepts

The purpose of Preparing Balance Sheet is to disclose the financial status of business organization in terms of its assets and liabilities at any given point of time.

Format of Balance Sheet Liabilities I. Owners’ Capital: Opening balance Of Capital XXX Less: Drawings XXX Add/Less: Profit/Loss Transferred from Profit and Loss A/c XXX --------Closing balance of Capital

Amount (Rs)

Amount (Rs.)

I. Fixed Assets: Land Buildings Plant & Machinery Furniture Vehicles Patents Goodwill, etc. XXX

II. Borrowed Capital/Long Term Liabilities: Secured Loan: Bank Loan XXX Any loan for more Than 12 months and Secured. XXX --------Total Secured Loan XXX Unsecured loan: Any loan for more than 12 months and unsecured XXX --------Total Unsecured Loan XXX XXX Total Long Term Liabilities III. Current Liabilities: Sundry Creditors XXX Advance received

Assets

XXX XXX XXX XXX XXX XXX XXX --------Gross Fixed Assets XXX Less: Depreciation XXX ---------Net Fixed Assets XXX II. Non-Current Assets: Investments

XXX

III. Current Assets: Sundry Debtors XXX Inventory/Closing Stock: Raw Material XXX Work-in-Process XXX Store and Spares XXX ------Total Inventory XXX Prepaid expenses XXX Income Receivable XXX Cash at Bank XXX Cash in Hand XXX -------Total Current Assets

XXX

From Customers XXX Outstanding expenses XXX Income received in Advance XXX Taxes payable XXX Bank Overdraft XXX -------Total Current Liabilities Total

XXX XXX

Total

XXX