This document provides a template balance sheet for a legal services start up. The purpose of a balance sheet is to provide a snapshot view of a company's financials. It is a financial statement that summarizes a company's assets, liabilities, and owners'/shareholders' equity at a specified point in time. Each section will list several accounts. For example, the assets will commonly include accounts for current assets (such as cash, inventory, and accounts receivable), fixed assets, and other property; similarly the liabilities section will often include accounts for current and fixed liabilities - though the exact accounts listed will vary by company. A balance sheet is a useful analytical tool; it can be used to calculate working capital or used to determine a company's capital structure.
[COMPANY NAME] Balance Sheet Forecast [Date] Current Forecast Current Forecast [Date] [Date] [Date] [Date] ASSETS LIABILITIES Current Assets Current Liabilities Checking Account $ - $ - Accounts Payable $ - Petty Cash - - Business Credit Cards - - Accounts Receivable - - Customer Deposits - - Prepaid Insurance - - Payroll Liabilities - - Employee Advances - - Sales Tax Payable - - Inventory - - - - - - Long-term Liabilities Fixed Assets Car Loan Payable - - Furniture and Equipment - - Equipment Leases - - (Accum Dep. - Furniture) - - Mortgage - - Computer Equip/ Software - - Shareholder's Loan - - (Accum Dep. - Computers) - - - - Vehicles/ Tractors/ Trailers - - (Accum Dep. - Vehicles) - - EQUITY Buildings & Leasehold Imp. - - Opening Balance Equity - - (Accum Dep. - Buildings) - - Capital Stock - - Land - - Dividends Paid - - - - Owners Draw - - Retained Earnings - - Other Assets - - Intellectual Property - Security Deposit - TOTAL ASSETS $ - $ - TOTAL LIABILITIES & EQUITY $ - $ - #REF!
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