Summary Financial Accounting Notes on Final Account (Format of Balance Sheet) for B.com / BBA / BS / ADP Chapter 009

FINAL ACCOUNT
Format of Balance Sheet
Lecture # 09
XYZ Ltd.
Balance Sheet
As on _____

Assets Amount Amount
Liabilities
Rs. Rs.
Liquid Assets: Current Liabilities:
Cash in hand --- Outstanding expenses ---
Cash at bank --- Unearned revenue ---
Current Assets: --- Bank overdraft ---
Prepaid expenses --- Bank loan ---
Revenue receivable --- Loan from ___________ ---
Sundry debtors / Accounts --- Sundry creditors / Accounts ---
receivable / Sales ledger balances --- payable /Purchases ledger balances ---
Bills receivable / Notes receivables --- Bills payable / Notes payable ---
Closing stock --- Manager Commission ---
Stock of stationery --- Fixed liabilities / Long term liabilities:
Traveler samples --- Reserves ---
Loan to ____________ --- Mortgage loan ---
Investment --- Secured loan ---
Fixed Assets: Unsecured loan ---
Land and building --- 10% Debenture ---
Premises --- Owner Equity/ Capital
Plant and machinery --- Capital ---
Furniture and fixtures --- Add: Net Profit ---
Motor vehicles --- Add: Additional Capital ---
Office equipment --- Add: Owner salary ---
Horses and carts --- Add: Interest on Capital ---
Goodwill --- Less: Net Loss ---
Patent --- Less: Drawing ---
Copyright --- Less: Interest on Drawing ---
Trademark --- Less: Income Tax --- ---
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