Create a balance sheet of your own financial situation. List your assets and all
ID: 2568409 • Letter: C
Question
Create a balance sheet of your own financial situation. List your assets and all your liabilities, and then find the difference: your net worth or net assets. If you create all four of your own financial statements this semester and turn them in at the end of the semester, you will earn five points toward your grade. To complete this project, you will need to track all your revenues and expenses for the semester and then project out those revenues and expenses for the fiscal year. (total five semisters and each semister has 2 subjects. please write approx. balance sheet?)
Explanation / Answer
Income and expenditure a/c:
To stationery exp 120 By Revenue 850
To repairs 52
To conveyance exp 175
To tuition fees 458
To Net Surplus 45
- - - - - - - - - ----
850 850
_______ ______
Balance Sheet
Liabilities Amt Assets Amount
Debt owed 650 Car 1650
Net worth Cash at Bank 530
B/f 1485
Add : 45
______ 1530
- - - - - - - - - - - - - -
2180 2180