Business Analysis: Microsoft® Excel 2010

2. Balance Sheet: Current Assets

IN THIS CHAPTER

Designing the Balance Sheet 38

Getting a Current Asset Cash Balance 41

Getting a Current Asset Accounts Receivable Balance 46

Getting a Prepaid Expenses Balance 52

Getting a Current Asset Balance 54

The balance sheet complements the income statement, discussed in Chapter 1, “Working with Income Statements.” You need both reports to keep track of your company’s financial status. A balance sheet contains two primary sections:

• Assets states the balances in the company’s asset accounts on a given date.

• Liabilities and Equity states the balances in the company’s liability and its equity accounts on the same date.

These two sections must be in balance; that is, the total of the company’s assets ...