Get Simple Balance Sheet Free

Filling out a balance sheet is a fundamental step for individuals and organizations to understand their financial position. This guide provides clear, step-by-step instructions on how to effectively complete the Simple Balance Sheet Free online, ensuring that you capture all necessary components accurately.

Follow the steps to complete your Simple Balance Sheet Free online.

1. Press the ‘Get Form’ button to access the Simple Balance Sheet Free document and open it in your document editor.
2. Begin by entering the date for which the balance sheet is being prepared at the top of the form.
3. In the assets section, list all current assets, starting with cash, followed by accounts receivable (subtracting any doubtful accounts), inventory, temporary investments, and prepaid expenses. Sum these values to obtain the total current assets.
4. Next, move to the fixed assets section. List any long-term investments, land, buildings, and plant and equipment, ensuring to account for accumulated depreciation. Calculate the total net fixed assets.
5. Add the totals of current and fixed assets to calculate the total assets, and enter this figure in the designated spot.
6. Proceed to the liabilities section. Begin with current liabilities, which includes accounts payable, short-term notes, interest payable, taxes payable, and accrued payroll. Calculate the total current liabilities.
7. Then, enter the long-term liabilities, which include the mortgage and any other long-term debts. Calculate and summarize the total long-term liabilities.
8. Combine the totals of current and long-term liabilities to determine total liabilities.
9. In the shareholders' equity section, document the capital stock and retained earnings, and calculate the total shareholders' equity.
10. Finally, ensure that the total liabilities and equity equals the total assets. Review your entries, then save changes, and choose to download, print, or share the completed form as needed.

Start completing your Simple Balance Sheet Free online today!