Personal Balance Sheet

A personal balance sheet lists current assets, such as cash in

checking accounts and savings accounts; long-term assets, such as

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common stock and real estate; current liabilities, such as loan debt

and mortgage debt due; or overdue, long-term liabilities, such as

mortgage and other loan debt. Securities and real estate values are

listed at market value rather than at historical cost or cost basis.

Personal net worth is the difference between an individual’s total

assets and total liabilities.

U.S. Small Business Balance Sheet

A small business balance sheet lists current assets, such as cash,

accounts receivable, and inventory; fixed assets, such as land,

buildings, and equipment; intangible assets, such as patents; and

liabilities, such as accounts payable, accrued expenses, and long-

term debt. Contingent liabilities, such aswarranties are noted in

the footnotes to the balance sheet. The small business’s equity is the

difference between total assets and total liabilities.