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BALANCE WORKSHEET Thebankofglenburniecom  Form

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what's a balance sheet and why do you need one for your business let's get into it and balance sheet is one of the most important financial statements for a business it gives you a snapshot of exactly how much money you have to work with right now and shows you how risky your business is okay but how in a nutshell your balance sheet shows you what your business owns what your business owes and how much has been invested by owners reported on a single day so you can see your business's financial position at a given moment in time there are three main parts to a balance sheet assets liabilities and Equity assets are what your business owns a value that can be converted into Cash like money in a bank account accounts receivable and inventory on your balance sheet assets will be divided into current assets which are assets you expect to convert to cash within one year and long-term assets which are assets you don't expect to convert to cash within a year lia

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