Balance Sheet Items & Lists

A Balance Sheet Shows financial position of a business’permanent accounts (Assets, Liabilities & Equity) on a particular time of a specified date. A Balance Sheet includes items lists of Assets, Liabilities and Equity. It has two sides One is Assets Side and other one is Liabilities & Equity Side.

Asset Side is further divided into two parts Current Assets and Non Current Assets / Fixed Assets. It starts with most Most Liquid Assets that comes first. Cash is the most Liquid Asset while Goodwill is the least Liquid side on Balance Sheet according to Liquidity Order. On Liability & Equity Side Liabilities comes first and then Equity Classification comes in the second place. Liabilities are also divided into Current and Long-Term Liabilities. Equity Side includes Shares Capital, Shares Premium, Retained Earnings and other components.

Balance Sheet Items Lists include Assets, Liabilities And Equity. The famous items list are shown below:

Current Assets Lists

Cash & Cash Equivalents, Accounts Receivable / Debtors, Inventory / Stock, Prepaid Expenses, Accrued Incomes.

Fixed Assets / Non Current Assets Lists

Land, Buildings, Furniture & Fixture, Plant & Machinery, Office Equipment, Office Supplies, Loose Tools, Vehicles.

Contra Accounts Lists

Accumulated Depreciation, Allowance For Doubtful Accounts, Drawings, Dividend

On Liabilities Side, following most famous liabilities are listed:

Current Liabilities Lists include the following:

Accounts Payable / Creditors, Outstanding Expenses, Unearned Revenues, Dividend Payable.

Long-Term Liabilities / Non Current Liabilities Lists

Bank Loans, Long-Term Investments.