BALANCE SHEETS
Textbook, Chapter 24 [pg 294-301]

Name: …………………………………………………

Class: ……………

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Learning outcomes:
• Identify the main elements of a balance sheet.
• Identify the main classifications of assets and liabilities.
• Explain how to interpret simple balance sheets.
 
 

BALANCE SHEET

Purpose: _______________________________________________________
_______________________________________________________________

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(Draw out the simple balance sheet format)

Format:

Non-current Asset (Fixed Asset)

Current assets

Current liabilities

Working capital (net current assets)

Finance by:
Shareholders’ funds/ Owner’s Equity
Capital
Add: Net profit
Less: Drawings

Less: Long-term liabilities

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Definitions to learn:

Assets_____________________________________________________
___________________________________________________________

Liabilities___________________________________________________
___________________________________________________________

Non-current assets___________________________________________
___________________________________________________________

Current assets_______________________________________________
___________________________________________________________

Non-current liabilities__________________________________________
___________________________________________________________

Current liabilities_____________________________________________
___________________________________________________________

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INTERPRETING BALANCE SHEET DATA

• Working capital: ___________________________________________

Formula:

• Shareholders’ funds: _______________________________________

• Share capital: _____________________________________________

• Reserves: ________________________________________________

• Capital employed: _________________________________________

Formula:

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