How To Do A Balance Sheet

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How to do a balance sheet: a balance sheet is a financial document that shows the assets, liabilities, and owners' equity of a company at a given point in time. It's different from the income statement in that it is a snapshot on any given day, whereas the income statement spans a time period. Most companies prepare their balance sheets quarterly and yearly.
How To Do A Balance Sheet
To put together a balance sheet, you'll obviously need all of the financial data from your different trial balances. In reality, the information for a balance sheet starts with the individual transactions, but the purpose of this article is just to show you how to organize a balance sheet.
First of all, there are two sides to the balance sheet: the right and left side. On the left side, you'll have your assets. On the right side, you'll have two sections: liabilities and owners' equity. The left and right side will always be equal, and the main balance sheet equation is:
Assets = Liabilities + Owners' Equity
This makes sense because the Assets are on the left side, and it will always equal what is on the right side, which is the Liabilities and Owners' Equity accounts added together.

[@gamatastica3478]

Honestly despite sounding tired and monotone, he is straight to the point and that’s what matters. Some enthusiastic teachers loose track sometimes. Better to have a really quiet hair stylist that cuts your hair right than a cheerful one who probablly shaved your sides to the skin because he was busy entertaining you. Then again there are those that can do both but hey he’s a good teacher overall.

[@Aman-dt9kk]

why can't teachers just explain like this guy does

[@stg7171]

your voice is the auditory manifestation of accounting

[@rabbathussain9230]

it's kinda nice, I think

[@aleadalopez1127]

I love it

[@jollyroger1210]

I have an accounting test tomorrow, this helped a ton. Thanks, dude.

[@tobyrd93]

Why criticise a guys voice when you have a FREE accounting tutorial at your hands?

[@stg7171]

Tbh I didn't mean to criticize him, it was a joke and I think a lot of people understood that. The video is extremely useful and merit to the maker. No problem with a bit of banter though mate

[@SunshinePlenty]

WHY criticize? ....because they are ignorant; the only explanation that I could think of.

[@speciouspieces]

Simple and helpful. I watched this at 1.5x speed (click the gear for video settings). It was a good pace and I just went back to rewatch anything I missed.

[@lawrencewong100]

I used what I learnt here and get full marks in my accounting test :D Thx Bro!

[@zaynab7169]

Lucky you graduated now right?

[@albertoanunciadojr6828]

@@zaynab7169 he died

[@StressHaze]

@@albertoanunciadojr6828 ppl tend to live more then 9yrs.

[@marcbaez7518]

People please... who cares about the voice. It's about the lecture... Why do we always have to criticize every little thing. Let's be human for once. Moral Ethics make friends with it....Moving forward, very helpful Thank you for your valuable time Nate...

[@k.i.s.s..]

Marc Baez ...because this is a VIDEO LECTURE. Yes it's informative but you need to capture the audience with more than just the material. We are here because we are excited about learning and his monotone kills the vibe. He needs to know so that he can improve his videos just like we are trying to improve our knowledge of the subject

[@vipersquadprime6654]

Marc Baez uare right

[@parvathiveerasamy3193]

Bruv I care at least... When I have a boring ass teacher I ain't going to learn shit coz I'm going to zone out... Learning supposed to be fun coz it's our 'education' that 'determines our future'

[@gamatastica3478]

My man’s sounding like a hippie human rights activist fighting for a dude with a monotone voice

[@SenaBenton]

Simple and Direct👍🏾. God bless you🙏🏾. I didn't realise anything about his voice till i read the comments 🙄.

[@noah3fish]

Finally a good, quick and simple presentation. thumbs up bro!

[@Mr1996rivera]

For anyone thinking that this balance sheet is different it’s because it is there’s two different balance sheets. One balance sheet is an annual or yearly balance sheet and the other is a classified balance sheet which is for a specific amount of time. Annual balance sheets are a little simpler in my opinion.

[@InstTaxSolutionsLLC]

Having the balance sheet properly formatted makes it so much easier to read.

[@amandacalimese9522]

I needed help being explained this in my current accounting class , so thank you very much for the extra help

[@lizkel]

very soothing/calming voice

[@PingPang99.]

Thanks so much for this video it thought me a lot more about a balance sheet, thanks and may God bless you 🙏

[@queendoss8118]

Thanks for sharing. Clarity always clears the air.

[@Hart_Daniel]

This helped so much, but bring some life to your voice! Thank you!!

[@sonwabisefaleni1093]

You are an absolute lifesaver. Thank you

[@0504944742]

I do have an accounting test today morning. Thanks

[@hersheyskisses7194]

tnx man its been 5 years I forgot everything about this sh*t

[@Muzamaithetraveler1180]

Great stuff Man, I have learnt a lot. Don't pay attention to the haters, keep up with the good work

[@davidvanegas3315]

This was very helpful. Thank you.

[@shelemanikasuba2232]

I managed to get everything on exam due to your explanation thank you , may the Lord bless you.

[@aquareon2347]

thx for explaining. I was absent so many times that I needed help catching up

[@sarahcmpoyindimbika2262]

Your leson helped me alot

[@leeoleary3321]

Wow i love your soothing tone. Great for listening to accounting tutorial

[@kerrieobrien6620]

Excellent resource for BS students

[@vickypopyeni3979]

thumbs up !this is understandable and extremely well ecplained. .

[@BigBlastP]

I did not shed a single tear throughout the titanic but , I cried like a baby throughout the video

[@bethperalta5330]

Thank you very much for such a great explanation.

[@kaviarasankavi3219]

I like your voice , and your way of teaching is pretty good, and keep going on for the next video

[@thetourminator]

This doesn't show how to DO a balance sheet, it only shows & explains the format. Good intro on that front but still need to explain where the numbers translate from.

[@sotl97]

Thanks for the free information.

[@lupecampos8752]

Thank you! This definitely helps.

[@chiorazu8047]

i love ur voice though....so soothing

[@luvinafirst3651]

I have a question, Total A - Total L =OE , but text book it said Don't calculate Total A first, then if there is only Total L, how to find OE if it said Don't calculate Total A

[@ZuccheniMan]

this guy sounds real enthusiastic about accounting!

[@emadhussien2014]

ZuccheniMan

[@smithjo4152]

Thank you for this description of a balance sheet. One question I have a client that has a flea market business and he also drives for Uber and Lyft. Would each of the two income streams need its own balance sheet?

[@farannaveed8774]

Moon Company Ltd. has an authorized capital of Rs. 2,000,000 million divided into 200,000 stock with par value of each stock is Rs. 10. On December 31st, 2012 80,000 stock were fully called and paid up. The following are the balances taken from the ledger of the company as at December 31st, 2012.

[@samyeko4341]

Thanks so much for that ditailed

[@BillyReedMusic]

Very helpful information. Thanks.

[@tionellewilkinson3171]

this is so different from what my teacher teaches

[@familyholley]

Are only current assets listed in order of liquidity? It seems that land is almost always listed before buildings or equipment on the balance sheet. I would think it would be listed as equipment, building, then land if listed by liquidity. Can you clarify for me?

[@Bob_Ugee]

Steven & Aisha Lol

[@aquareon2347]

Idk

[@penguingal3]

Thankk youu this really helped me much!! :D

[@CuttCrew]

i have one tomorrow, i agree :)

[@Piseii]

thanks so much for a clear explanation.. appreciate it!

[@luvinafirst3651]

Will there ever going to be Balance sheet unbalance ? Since in the end OE must me Total A - Total L, and in the end we just plus OE back to Total L to become Total A again

[@rubinasherzay6761]

I have one quition that we have expense and revenue where should we write the asset side or liability side ??

[@tariqmehmood9708]

this format is in which standard of accounting??

[@mohamedazyan5284]

HELLOOO. you dont need a voice to teach.you only need the skill and the correct information.thanks to superfastCPA

[@jendymcdonald9934]

Hi, I have a question as it relates to land. Are you referring to the total value of the land in the assets section. What if you occupy just a small portion of the land?

[@kgobiimat9962]

Dont think his answer you 10 Years later after he posted this video

[@jacneville8057]

A good one thank you!

[@vintageways5551]

Double thumbs up sir....😊

[@puritymiriti1000]

wonderful tutorial

[@enajyram214]

Hi, does Interest Income goes to Income Statement or Balance Sheet?

[@aesthetic_goose]

this might be late, but it goes into the Income Statement

[@ronoc89]

Thanks for the video, great work.

[@mattreed1382]

Perfectly balanced as all things should be.

[@patriciabrazier7730]

Thank you great content!

[@missj6117]

guys, i know he sounds boring, but its not right to tell harsh words despites his efforts in making this vid.. lets appreciate his effort.. if u have any negative feedback, say it in a nice way that's not offending.. please people.. lets not make world war 3 😁😊😇

[@TheDxer11]

The worst thing ever is when you have a teacher who sounds EXTREMELY bored when he teaches.

[@NdamuleloNemakh]

+Mrs Sari thought i was the onli one who noticed

[@Nael338]

Ndamulelo Banzyme EN DEE Nemakhavhani bloody boring

[@arfenmalik1717]

A banch of ungreatful looser, why don't u go and learn how to apply makeup or follow some socialite, i bet their voices are so lit, i bet when they talk u can see butterflys floating in the air

[@Ari-lu5ve]

Nah this worse thing ever is when you have a teacher who doesn't teach.

[@bas6579]

economics teachers

[@topg571]

Great help thank you!

[@sittihiedisamad2825]

Thank you so much!!!

[@bigmacdaddy1234]

Without showing the journal entries, this explanation is useless.

[@user-jt2jl7vz3s]

very clear, thanks! 75% final tmw.. يارب

[@reemhussain3305]

لا أصلا بالعكس الصوت جامد جدا الحمدلله اني ما نمت في وصط الفيديو

[@ecj2236]

So helpful thank you!!

[@brentonakoname1902]

what if in my TRIAL BALANCE, the accounts receivable is in the credit side, will i still include that as an asset in the balance sheet???

[@kamanasedhai3725]

Not..it should be in income statement..I think it's late

[@Hadeerk999]

thanx alot

[@tanishkaathegreat]

Hiiiii I'm from 2022 reading a comment u posted in 2012

[@youraveragegamercan]

does it matter if I put "accounts receivable" before "cash" or is there and actual order I must follow?

[@semihbariskarakus]

Yes, there is one logic in both sides of balance sheet. Asset side is based on liquidy-in other worlds, putting items in order is according to their ability to be turned into cash. Cash in hand is most liquid item, that is why, assets starts with it then other items comes based on being liquid logic. In liability said is also same logic, it starts with short term debt and ends with capital(equity), based on ability to finance your assets in which volume. You cannot easily finance your asset with your capital but you can with your short term dept, then long term and in the end with your equity :)

[@nijathasanbayli6806]

+Semih Baris Karakus Isn't notes payable included to current liabilities?

[@yedeylp]

Perfekt voice..chilling

[@marilyngallenero6713]

can you teach me more about the balance sheet please

[@TheRealWildCarl]

Great video man

[@playyxx]

Your voice makes my throat dry but you helped me heaps!

[@FluffyMariam]

Thanks

[@ihteramulhaq4097]

can first we will write non current asset and non current liablities?????/

[@hayaali6635]

That was helpfull thank u 👍

[@chelseajohnson9922]

nice voice................... great info

[@Kusumaaji-88]

Good

[@rnbdiva01]

Thank you!

[@muhammadgarba7784]

how will i find the total balance

[@ernestjoseph5991]

thank you i gain something

[@giddydigs9040]

How do you get them to balance?

[@James-ip5gz]

I dropped a like for "Scammer Corporation" lmao

[@KatherineLP]

thank you so much.

[@crazychild5crazy958]

REST IN PEACE XXXTENTACION YOU WILL BE MISSED ;( ;( ;( ;(

[@maheshwaripatil6959]

how to solve prepare balance sheet for From the following information prepare the Balance Sheet of Abhishek Ltd. Rs. Paid up capital = 75,000 Plant & Machinery = 1,85,000 To sales (p.a.) = 7,00,000 Gross Profit = 20% Annual credit sales = 70% of net sales Current ratio = 2, inventory turnover = 4 Fixed asset Turnover = 2, Sales return = 15% of sales Avg. collection period = 90 days, Bank credit to trade = 2 Cash to inventory = 1 : 20, Total debt to current liabilities = 3.

[@nicolethompson4241]

thank you!!

[@siladityabera510]

Dear sir plase make a cyber cafe PL&balance sheet

[@jerrycalcano2174]

Ineed somebody tell me the whole balance sheet accounts go in..

[@madhuchauhan4567]

Thanku sir

[@frederickadrianapolinar5240]

Just a question. Who include stocks in liabilities and not in assets? Is stock also an investment to be included in assests?

[@Aschleetionne]

When making a balance sheet for both months 1 and 2, what balances transfer from month 1 to month 2?

[@nareshsmart4660]

In story teller voice 😂😂🤓nice thanks sir by hinduja 🙌

[@juliaswanson4609]

thank u!!!

[@samiyaibrahim3666]

U sound like my teacher i sleptin ur class

[@smokeyeyes2805]

My phones volume is at full but I am still confused 🤔

[@TheCelebBubble]

You're welcome.

[@Justin12Awesomeness]

@SuperFastCPA , you simply did not explain 'how to do a balance sheet'. All you have done is read.

[@njugunagitau5088]

2021, am i the only one who noticed the name of the Corporation?

[@Emilyx239]

sigh the thing with poa is many people teach the same topic many ways cuz-

[@harun507]

I prefer Siri's voice over yours.....and i dont even have an IPhone :/