A personal balance sheet lists current assets, such as cash in
checking accounts and savings accounts; long-term assets, such as
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.