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Balance Sheet Homework Answer Adds on as a Privilege for the Students

A balance sheet is a fiscal statement that resumes a company’s assets, liabilities, stockholders equity at a particular time.It is also termed as ‘statement of financial position’. There are many financial statements like income statement, statement of cash flow, statement of shareholder’s equity, balance sheet. Among all these,Balance sheet is one the most important financial statement used by the accountants and business owners.

Usually, it is called ‘ snapshot’ of the company calculated every six months or in a year. Accountancy is quite a complex topic due to which students find difficulty in solving various projects. But if you want your career as an accountant or company secretary in any private sector company or public sector company, then you must have perfect knowledge of balance sheet. It is a known fact that some students find difficulty understanding how to solve balance sheet.

Here is “Balance sheet homework answer” help to provide you perfect knowledge. Now we need to understand the important elements of balance sheet. You will be already aware of 3 balance sheet statements that give a proper knowledge of what current status the company is. Aside to this, you will also know what the company is obliged to pay and presents the actual financial position of the company.

Let me explain in details about balance sheet.

These are the three major components of balance sheet:-

  • Asset

Assets are the resources that company owns through transactions and have future value. In this, the accounts are presented in a sequence from top to bottom in the form of liquidity, and then they are converted into cash. Assets are further classified into current assets and non-current assets.

The assets which can be converted into cash within 1 year or less than that is called current assets. These may be like prepaid expenses, accounts allowance, goods available for sale whereas those assets which cannot be liquidated in the next year are called long term asset. They may be like land, machinery, intangible assets.

  • Liabilities

Liability is the amount of money a company is indebted to pay or an amount any company is supposed to pay. It involves the money company borrows in order to carry out any business activity. Thus, it is included in accounts payable or general debt term liability. There are two types of liability Current liability and long-term liability.

Current liabilities are those which are payable within a year and are listed in order to their due dates. Few of its examples are wages payable, customer prepayments, taxes, rents. In case of long-term liabilities, they are payable after one year. For example, retirement money, interests and much more.

  • Shareholders equity

It is also called ‘owner’s stockholder equity’ or ‘ net assets’. As per balance sheet homework answer,tip shareholders equity is equivalent to Total assets minus total liabilities.

Or, shareholders equity=share capital= retained earnings- treasury shares.

Shareholder equity presents all management of money and credit banking and investments with the help of preferred shares and common shares.

In accordance with Balance sheet homework answer few tip balance sheet cleaves to this formula are:-

 Assets= Liabilities + Shareholder’s Equity

 Now there is a stark question that everyone has in your minds. What are the reasons behind students to feeling the need to balance sheet homework answers? Here are few supposed answers.

  • Tough topics

Students find difficulty in understanding some of the tough topics in accounts and one of the topics is balance sheet.

No doubt, solving balance sheet assignment is not an easy task it needs good practice which some students lack.

  • Lack of consideration in the class

It is the most common problem student face in the class. We know that a class is full of students, and some students lack to understand what is being taught in the class. So they require decipherable explanation which is tough to understand and thus they are left helpless.

  • Back breaking schedule

The life of the students is laborious. Getting up early in the morning, going to school, coming back then homework and a lot of things which make them feel tired where they get no time for any extra-curricular activities.

How to get expert help with your homework?

This is no doubt an important question that always circles in your mind.There are many experts who help in managing the work online in particular subjects. They do have good knowledge of balance sheet and various topics related to commerce or accounting.

These experts pursue a higher degree of education as PhD or Masters in commerce then only are involved in online helping students in solving their problems.Balance sheet homework answer helps to provide proper knowledge in the areas students need help with rather than just doing the assignments on their behalf. This actually is a good approach helping several of thousand students to solve balance sheet homework across the planet.

They do it via:

  • Perfect solution

It supplies almost correct answers to all the given questions as the accounting experts are well educated. They help in boosting your capability assuring students are served with A- grades marks in all accounting assignments.

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Things to keep in mind

There are some important things which should be kept in mind before upsurge for any online help like Balance sheet homework answer.

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Always check the reviews of the website you are going to use as it will assure you about the work of the company.

  • Research

Make sure you research well before starting the assignment with any of the websites as it could result in poor assignment if the service given is not perfect.

Here is one example of a balance sheet format by the Balance sheet homework answer to help students to understand the assignments and solve them easily:

Illustration

The annual income statement issued by John Wine shop would have the following heading:

Find the total assets of the John

John wine shop,

Balance sheet

December 31, 2016

Report format of Balance Sheet

                                    Assets

Current assets

Cash                                                    32,000

Accounts receivable                            1,000

Prepaid rent                                        2,000

Inventory                                             38,900

Total current assets                            73,900

                        Long-term assets

Leaseholder improvements                            90,000

Accumulated depreciation                             (-) 5,000 =        85,000

Total long term assets                                                85,000

Total assets:                                                    158,900

I'm from Michigan, USA and working as Tutor at My Homework Help Since 2012. The teaching job is very challenging job, but I love to do. I'm helping students with their homework. If you need homework assistance, feel free to contact me!

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