What is a balance sheet and why is it prepared?

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Ann N. · Accepted Answer

A Balance Sheet is a "snapshot" of the company a given time. The Balance Sheet shows the Assets, Liabilities and Owner's (Stockholder) Equity. It is used by investors, bankers and creditors to see how viable a company is at a point in time.

What is a balance sheet and why is it prepared?

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What is a balance sheet and why is it prepared?

1 Expert Answer

Still looking for help? Get the right answer, fast.

OR

RELATED TOPICS

RELATED QUESTIONS

Accounting question, journal entry error regarding prepaid insurance

Discuss the role of Financial Department within an organization based on its contribution to the strategic, tactical and operational planning of cocacola compay

Briefly discuss the role of Financial Accounting and Financial Reports of an organization with relevant to the Stake holders of coca cola company?

Beginning inventory at cost $9,000, ending inventory at cost $7,000, net sales $50,000, cost of goods sold $46,000. The inventory turnover at cost is

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