Search

accounts

Create a Storyboard
Copy this Storyboard CREATE A STORYBOARD!
Create your own at Storyboard That

A balance sheet?

ACCOUNTING

Alright, sorry for the holdup. Let's get started, shall we?

My husband and I are planning to start a business together and we're wondering about our financial situation.

We hope to see if we are in a position to start a business.

Okay. I think the best thing to do right now is to make abalance sheet.

A balance sheet?

The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.


It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.

So with our balance sheet we'll be able to see our financial situation?

Oh, ok. So what exactly is the information on the left and right side?

The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.

Yes, but there are few things to follow when making your balance sheet



Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.


Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.

Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.

Create your own at Storyboard That

A balance sheet?

ACCOUNTING

Alright, sorry for the holdup. Let's get started, shall we?

My husband and I are planning to start a business together and we're wondering about our financial situation.

We hope to see if we are in a position to start a business.

Okay. I think the best thing to do right now is to make abalance sheet.

A balance sheet?

The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.


It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.

So with our balance sheet we'll be able to see our financial situation?

Oh, ok. So what exactly is the information on the left and right side?

The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.

Yes, but there are few things to follow when making your balance sheet



Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.


Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.

Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.

Create your own at Storyboard That

A balance sheet?

ACCOUNTING

Alright, sorry for the holdup. Let's get started, shall we?

My husband and I are planning to start a business together and we're wondering about our financial situation.

We hope to see if we are in a position to start a business.

Okay. I think the best thing to do right now is to make abalance sheet.

A balance sheet?

The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.


It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.

So with our balance sheet we'll be able to see our financial situation?

Oh, ok. So what exactly is the information on the left and right side?

The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.

Yes, but there are few things to follow when making your balance sheet



Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.


Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.

Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.

Create your own at Storyboard That

A balance sheet?

ACCOUNTING

Alright, sorry for the holdup. Let's get started, shall we?

My husband and I are planning to start a business together and we're wondering about our financial situation.

We hope to see if we are in a position to start a business.

Okay. I think the best thing to do right now is to make abalance sheet.

A balance sheet?

The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.


It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.

So with our balance sheet we'll be able to see our financial situation?

Oh, ok. So what exactly is the information on the left and right side?

The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.

Yes, but there are few things to follow when making your balance sheet



Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.


Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.

Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.

Create your own at Storyboard That

A balance sheet?

ACCOUNTING

Alright, sorry for the holdup. Let's get started, shall we?

My husband and I are planning to start a business together and we're wondering about our financial situation.

We hope to see if we are in a position to start a business.

Okay. I think the best thing to do right now is to make abalance sheet.

A balance sheet?

The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.


It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.

So with our balance sheet we'll be able to see our financial situation?

Oh, ok. So what exactly is the information on the left and right side?

The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.

Yes, but there are few things to follow when making your balance sheet



Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.


Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.

Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.

Create your own at Storyboard That

A balance sheet?

ACCOUNTING

Alright, sorry for the holdup. Let's get started, shall we?

My husband and I are planning to start a business together and we're wondering about our financial situation.

We hope to see if we are in a position to start a business.

Okay. I think the best thing to do right now is to make abalance sheet.

A balance sheet?

The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.


It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.

So with our balance sheet we'll be able to see our financial situation?

Oh, ok. So what exactly is the information on the left and right side?

The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.

Yes, but there are few things to follow when making your balance sheet



Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.


Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.

Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.

Create your own at Storyboard That

A balance sheet?

ACCOUNTING

Alright, sorry for the holdup. Let's get started, shall we?

My husband and I are planning to start a business together and we're wondering about our financial situation.

We hope to see if we are in a position to start a business.

Okay. I think the best thing to do right now is to make abalance sheet.

A balance sheet?

The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.


It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.

So with our balance sheet we'll be able to see our financial situation?

Oh, ok. So what exactly is the information on the left and right side?

The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.

Yes, but there are few things to follow when making your balance sheet



Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.


Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.

Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.

Create your own at Storyboard That

A balance sheet?

ACCOUNTING

Alright, sorry for the holdup. Let's get started, shall we?

My husband and I are planning to start a business together and we're wondering about our financial situation.

We hope to see if we are in a position to start a business.

Okay. I think the best thing to do right now is to make abalance sheet.

A balance sheet?

The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.


It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.

So with our balance sheet we'll be able to see our financial situation?

Oh, ok. So what exactly is the information on the left and right side?

The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.

Yes, but there are few things to follow when making your balance sheet



Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.


Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.

Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.

View as slideshow
CREATE A STORYBOARD! Copy
Storyboard That Characters Storyboard That

Create your own Storyboard

Try it for Free!

Create your own Storyboard

Try it for Free!

Storyboard Text

  • ACCOUNTING
  • We hope to see if we are in a position to start a business.
  • My husband and I are planning to start a business together and we're wondering about our financial situation.
  • Alright, sorry for the holdup. Let's get started, shall we?
  • Yes, a balance sheet is one of the financial statements used in business, it is prepared to show the financial position of a business or individual. If the information in the balance sheet is correct, the left and right side will balance, that is, will be equal in value.
  • A balance sheet?
  • Okay. I think the best thing to do right now is to make abalance sheet.
  • The information on the left side are your assets, which are things a company or individual own such as cash, buildings etc. These also include things paid in advance that have not yet been used, such as prepaid insurance, prepaid rent.
  • Oh, ok. So what exactly is the information on the left and right side?
  • The right side includes all the liabilities, they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title. For example, if you purchased a music player for ₹150 and put ₹50 toward a down payment, you have debt or liability of 1₹100.
  • It also includes owner's equity which can be thought of as a source of the company's assets. Owner's equity is sometimes referred to as capital or just equity. It is the book value of the company.
  • Some other terms you will use in a balance sheet includes bills receivable which represents the debts of customers. An example would be your friend owing you ₹100. bills payable which represent debts owed by the business/individual, which could be you owing ₹100 to a friend.
  • Yes, but there are few things to follow when making your balance sheet
  • A balance sheet?
  • Assets are listed in order of liquidity—the order within which an asset can be converted immediately into cash.
  • So with our balance sheet we'll be able to see our financial situation?
Over 30 Million Storyboards Created
No Downloads, No Credit Card, and No Login Needed to Try!
CREATE MY FIRST STORYBOARD
Storyboard That Family

We use cookies so you get the best experience, Privacy Policy

Got it!