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Opening Day Balance Sheet: Enter Your Company Name Here

This balance sheet shows the financial position of a company on its opening day. It includes sections for current assets like cash and inventory, fixed assets like equipment, other assets, current liabilities such as accounts payable, long-term liabilities like loans, and the owners' equity which represents the net worth of the company. Notes provide guidance on how to prepare the balance sheet by entering starting values for assets based on costs and valuing prepaid expenses for items paid for but not yet used.

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kakak
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54 views1 page

Opening Day Balance Sheet: Enter Your Company Name Here

This balance sheet shows the financial position of a company on its opening day. It includes sections for current assets like cash and inventory, fixed assets like equipment, other assets, current liabilities such as accounts payable, long-term liabilities like loans, and the owners' equity which represents the net worth of the company. Notes provide guidance on how to prepare the balance sheet by entering starting values for assets based on costs and valuing prepaid expenses for items paid for but not yet used.

Uploaded by

kakak
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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Opening Day Balance Sheet

Enter your Company Name here


Notes on Preparation
Assets
You may want to print this information to use as
Current Assets reference later. To delete these instructions, click
Cash in Bank $ - the border of this text box and then press the
DELETE key.
Inventory -
Prepaid Expenses - A balance sheet shows the financial position of your
Other - company at a single moment in time; in this case, it will
Total Current Assets $ - be as of opening day. Use your Startup Expenses
spreadsheet to get the basic data for the balance
Fixed Assets sheet. Here are some accounting rules which will help
Machinery & Equipment $ - you construct an accurate balance sheet: Assets are
Furniture & Fixtures - recorded at the lower of cost or current market value.
Since your assets will be newly acquired, put them
Leasehold Improvements - down at cost. If you have donated personal
Real Estate / Buildings - possessions to the business (e.g., a vehicle), enter
Other - them at market value.
Total Fixed Assets $ -
Prepaid Expenses are items like insurance premiums
Other Assets which you have already paid but have not yet "used".
Specify $ -
Other Assets are intangible items like patents and
Specify -
trademarks which are presumed to have economic
Total Other Assets $ - value. It is very unlikely that you will have significant
Other Assets as a new business. You should also
Total Assets $ - include here items like lease and utility deposits.

Current Liabilities are any debts due within twelve


months.
Liabilities & Net Worth
Trade payables and bank lines of credit are current
liabilities. If you have a Long Term (multi year) Debt,
Current Liabilities then that portion of it which is payable over the next
Accounts Payable $ - twelve months goes in "Current Portion of Long Term
Taxes Payable - Debt". The remaining portion of that debt then goes in
Notes Payable (due within 12 months) - the "Bank Loans Payable (greater than 12 months)"
Current Portion Long-term Debt - section under Long Term Debt.
Other current liabilities (specify) -
Owners' Equity is what is left when you subtract
Total Current Liabilities $ - Liabilities from Assets. It will be less than you have
actually spent on starting your business. That is
Long-term Liabilities because many of your pre-opening expenses do not
Bank Loans Payable (greater than 12 result in ownership of assets which show on a balance
months) $ - sheet. For example, advertising, travel, and legal fees
Less: Short-term Portion - may be necessary, but they do not generate balance
Notes Payable to Stockholders - sheet assets.
Other long-term debt (specify) -
Total Long-term Liabilities $ -

Total Liabilities $ -

Owners' Equity (Net Worth) $ -

Total Liabilities & Net Worth $ -

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