CENTURY 21 ACCOUNTING © Thomson/South-Western

LESSON 7-2LESSON 7-2

Balance Sheet Information on a Work Sheet

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2

BALANCE SHEETBALANCE SHEET page 187

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2

HEADING OF A BALANCE SHEETHEADING OF A BALANCE SHEET page 187

11

22

33

1. Center the name of the company on the first line.

2. Center the name of the report on the second line.

3. Center the date of the report on the third line.

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2

ASSETS AND LIABILITIES ASSETS AND LIABILITIES SECTIONS OF A BALANCE SHEETSECTIONS OF A BALANCE SHEET page 188

44 LiabilitiesLiabilities11 AssetsAssets

Total LiabilitiesTotal Liabilities88

22 Account titles Account titles

33 Asset amountsAsset amounts

Single lineSingle line 77

66Liability amountsLiability amounts

55Account titlesAccount titles

Total of liabilitiesTotal of liabilities 99

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2

OWNER’S EQUITY SECTION OF A OWNER’S EQUITY SECTION OF A BALANCE SHEETBALANCE SHEET page 189

77 Total Liab. and Owner’s Eq.Total Liab. and Owner’s Eq.

55 Total AssetsTotal Assets

11 Owner’s EquityOwner’s Equity

22 Account title Account title 33Capital amountCapital amount

44 Single lineSingle line

66Total of assetsTotal of assets

88Total of Liabilities and Owner’s EquityTotal of Liabilities and Owner’s Equity

99Compare totalsCompare totals 1010 Double linesDouble lines

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2

OWNER’S EQUITY REPORTED IN DETAIL OWNER’S EQUITY REPORTED IN DETAIL ON A BALANCE SHEETON A BALANCE SHEET page 190

22Beginning capital amountBeginning capital amount

66DifferenceDifference

88Current capital amountCurrent capital amount

11 Beginning capitalBeginning capital

33 Net IncomeNet Income

44 DrawingDrawing

Ending capitalEnding capital77

99 Total Liabilities and Owner’s EquityTotal Liabilities and Owner’s Equity

55 Single lineSingle line