The balance sheet summarizes your business’s financial status as of a certain date. It follows the accounting equation: Assets = Liabilities + Owner’s equity. In non-accounting terms, the balance sheet tells you what your business owns (assets), what it owes (liabilities), and what the owner’s stake in the business is (equity). If you think of…
The article Balance Sheet: Definition, Uses and How to Create One originally appeared on NerdWallet.
https://www.nerdwallet.com/article/small-business/balance-sheet-definition-uses-and-how-to-create-one
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