How to Make a Balance Sheet (Fast!)
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- Опубликовано: 19 июл 2024
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In today's video, I show you how to make a balance sheet. On the Balance Sheet or the Statement of Financial Position, We will go through assets, liabilities, and equity. As you might know, both sides must balance, assets must equal liabilities and equity. In this video, I will show you how to make a balance sheet in excel fast.
Throughout the video, we will go through the basic concepts then after we are familiarized, we will go through a balance sheet example.
This balance sheet tutorial is what you need to master assets, liabilities, and equity. This is the second video in the financial statement series. Take a look!
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Comment below if you have any questions!
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#BalanceSheet #classifiedBalanceSheet #trialBalance heet
Comment below, what is the fundamental accounting equation?!
Yes... Thats Assets = Capital - Liability 🙂
Assets= Equity + Liabilities
Assets=liabilities + owner's equity
I'm having an accounting exam tomorrow and just 2 of your videos
I'm ready now
Thank you so much hero
Good morning Señor Nathan: The Balance sheet, and the Income statement were simply great, easy to follow and understand; in my class I submitted my first Trial Balance statement, and the Balance sheet along with the stoclkolders equity; I new there would be errors, well I got a full ZERO; however, the professor wants me to resubmit (i'll get 10% off); with your help, I now actually feel more confident and believe i'll do well minus 10%, but that's always better than zero, thanks for your help; your videos do make a difference!
Came across this on my feed - what a fantastic servant you are for the future of finance and accounting. Will share this video with my kids!
Fantastic video my man. Informative, quick and straight too the point. You just earned yourself a new sub
This was EXACTLY what I needed!! Thank you so much!
Nice and simple, thanks!
An explanation of what each consists of would be super helpful
Thanks for the feedback!
Oh thank you I love this explanation 💖
Great stuff man!
great job dude! you saved me tons of hours
Nathan, You are a rock star. Thanks for an outstanding and valuable video explaining the balance sheet. I have one question. "How to calculate Shareholder (Owner) Equity for the balance sheet?"
You keep track of it from the beginning inside the ledger. Those transactions in which owner invested the money into business, sum all of them and that is owner's equity.
Yes, absolutely. Great idea for a video!
Is this also called Statement of Financial position?
great video keep it up
THANK YOU! New Sub here
How did you get those numbers? That you used for the balance sheet.
Listens to his voice*
Yep, sounds like an accountant
hero
What if you only have an account payable amount for an expense when you start your small business? How do you balance that out so it zeros? Not a corporation, no equity.
hey thanks for the vid. and btw u need to fix the ending, because there arnt any videos when it says watch next. :)
Thanks! Just fixed it :)
@@Accountinguniv np!
Yeah I agree with @gabe gaming , how is prepaid insurance an asset? I do appreciate the video though my man a few of them got me through my HW.
Ever buy a prepaid credit card? Well you’re filling that card with funds to be used in the future. Same as prepaid insurance or anything prepaid.
Therefore it provides a future benefit, aka an Asset :)
Would insurance on a building be included as a liability?
Actually it would be an asset. You buy insurance up front and it becomes a prepaid asset. Then as time passes, that will be used up and expensed.
I’m still lost and confused, anyway someone can help me out 😩?
What for bad debts
what is the name of the 1st sheet that says account debit and credit? that is the first step?!
Trial balance
What of bad debts
I am taking a Managerial Accounting Course. Will your Managerial Accounting course help me
Definitely! Check the link in the description for 85% off 👍
bit.ly/mgt-acct-review