Balance Sheet: Current Assets, Long-Term Assets, Total Assets

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Transcript So let’s take a look at the assets section of the balance sheet. The assets section is commonly divided into two pieces:

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  1. Current assets
  2. Long-term assets Current assets are assets that can be turned into cash within a year — in a short period of time — and they include cash, of course, accounts receivable (also called AR: this is the amount of money that your customers owe you) and then inventory. Long-term assets include things like building and machinery.

go to site Alright, so let’s put some numbers in so you can see how the assets section totals. Let’s say that we have a total of $1,000 in cash. Our customers owe us a total of $5,000 and we’ve got $10,000 worth of inventory sitting on our shelves. We would then, for current assets, subtotal this ($1,000 plus $5,000 plus $10,000 is equal to $16,000 worth of current assets).

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go to site Our building is worth $150,000 and I’ve got machinery in there worth another $25,000. I’m going to subtotal my long-term assets  ($175,000). And then I’m going to subtotal and create my total assets ($191,000) and I got there by simply adding my $16,000 in current assets to my $175,000 in long-term assets. And then, of course, now I’m at the bottom of my financial statement and so I do a double-underline. My assets are $191,000.

teen best anal gangbang in the worls Next up — we’ll do the liabilities and owner’s equity.

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