Sample Small Business Balance Sheet

Assets		Liabilities and Owners' Equity
Cash	$6,600	Liabilities
Accounts Receivable	$6,200	Notes Payable	$30,000
		Accounts Payable
		Total liabilities		$30,000
Tools and equipment	$25,000	Owners' equity
		Capital Stock	$7,000
		Retained Earnings	$800
		Total owners' equity		$7,800
Total	$37,800	Total		$37,800

A really 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 as warranties are noted in the footnotes to the balance sheet. The small business's equity is the difference between total assets and total liabilities.