GAAP Comic

GAAP Comic

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Storyboard Text

  • Ferrari                                        $120,000 (current price)
  • Wow! Who knew creating a balance sheet would be so easy? I should have become an accountant
  • Now all I have to do is list the liabilites of my company, and owners equity
  • Liabilities Bank Loan    10 000 A/P- Jacob Brown  1000 Total Liabilities  $11 000 Owners Equity  200 000 Total Liabilities and OE  $211 000
  • Adam then puts in the balance of all of his assets, with the current, up to date amounts
  • I know that I am smart enough to make a balance sheet, but it doesn't hurt to get it checked. There's an accountant just down the street.
  • After finishing up with the assets, Adam moved on to the rest of the balance sheet with lots of confidence in what he was doing
  • After finishing, Adam wants to get his balance sheet checked by an accountant just to make sure he has done it right.
  • Adam leaves his home and is on his way to the accountants office
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