Course 11 the Balanced Form

Instructions and help about Course 11 The Balanced

this is the last of our free bookkeeping videos on YouTube and in his last video we're going to look at at balance sheet so a last video we looked at our profit and loss statement and using the current closing balances of Ledger's to create the profit and loss statement the close balances of any assets liabilities we didn't use the reason being we will bring those close and balances together to create a balance sheet now a balance sheet is the company's assets liabilities and the owner's equity and basically gives a snapshot of the financial condition of the company or business now the formula for apparently is assets equals liabilities plus capital or plus owner's equity so our assets should equal the sum of liabilities and owner's equity so assets we could have the bank balance if it's in a positive value a thousand pounds or dollars but then we could have some stock at 500 at so to us it's been 1500 pounds now just to remind you all of these videos I've done are very simple a balanc