HELLO!!!SORRY FOR MAKING YOU GUYS WATE.HMM SO LETS START
MY FRIEND AND I ARE PLANNING TO BY A CAR TOGETHER BUT WE ARE WONDERING ABOUT FINANCIAL SITUATION??
AND WE HOPE If YOU ARE IN A POSITATION TO BUY S CAR
A balance sheet?
Okay. I think the best thing to do right now is to make a balance sheet.
Yes, a balance sheet is one of the important thing in business,prepared by accountants to show the financial position of that business or individual on a particular date. If the information in the balance sheet iscorrect, the left and right will balance, that is, will be equal in value.
Oh, ok. So what exactly is the information on the left and right side?
These also include things paid in advance that have not yet been used, such as prepaid advertising, prepaid insurance, prepaid legal fees and prepaid rent.
The information on the left side are assets, which are things a company or individual own such as cash, supplies, equipment, and buildings.