12. Learning Objectives
1. Identify what
is a balance
sheet.
2. Calculate total
assets, liabilities and
capital.
3. Examine accounts that will
be placed in a balance sheet.
13.
14. What is a balance sheet?
Home
The balance sheet lists all
assets, liabilities, and
owner's equity balances as
of the last day of the
financial period.
19. Debts that a company
owes and costs that it
needs to pay in order to
keep the company
running.
Liabilities
20. Contribution and past
earnings of business owners.
It is often referred to as “net
assets,” as it is equal to a
corporation’s total assets
minus its liabilities
Capital
21. Example:
If Mr. McRonald’s total assets is P100,000
and his capital is P65,000 how much is his
total liabilities?
Assets Liabilities Capital
P100,000 ? P65,000
P100,000 P35,000 P65,000
23. Example problem:
Prepare in proper form, the balance sheet for
Dark Knight Inc. as of January 31, 2023;
business owned by B Wayne.
Office Supplies P3,100 Bank loan P25,000
Cash P4,300 Accounts Payable P10,000
Office equipment P11,600 Land P40,000
Shop equipment P3,200
28. Blank Space Inc. is owned by T. Swift. The company
had the following assets and liabilities on December 31,
2022. Prepare in proper form, a Balance Sheet for the
company as of that date.
GROUP 1
Supplies P3,100 Bank loan P20,000
Cash P2,000 Accounts Payable P35,000
Equipment P75,000 Land P50,000
Shop equipment P3,000 Building P140,000
Trucks P35,000 Mortgage Payable P75, 000
29. Apple Inc. is owned by Mr. J. Melon. The company had
the following assets and liabilities on April 30, 2023.
Prepare a Balance Sheet for the company.
GROUP 2
Office Supplies P2,100 Short-term loans P5,000
Cash P3,000 Accounts Payable P15,000
Office Equipment P50,000 Land P45,000
Inventory P13,000 Building P100,000
Trucks P25,000 Mortgage Payable P60, 000
30.
31. Home
Using the given data
accomplish the accounting
equation by applying
necessary operations.
