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Definition Of Tax Basis Balance Eet Bizfluent Example Template Income

Worksheet Details

  • CategoryBalance Sheet.
  • TopicTax basis balance sheet example.
  • AuthorTahlia Bancks
  • PostedThu, Jul 18th 2019 17:24 PM
  • Formatjpg/jpeg

For the purposes of the balance sheet, the assets are the total of everything your business has are valued by the business. This might be something that’s in the form of real property, such as an office building with a parking garage. It could also be stocks, bonds, or working capital such as heavy machinery and equipment. Some businesses will even include their unsold inventory in this section.

Retained earnings are a little different. Remember the formula for the balance sheet? (Assets = Liabilities + Equity?) If you’ve filled out the rest of your balance sheet template, then you will have only retained earnings left to work with. Therefore, retained earnings are equal to Assets – Liabilities – Contributed Capital.

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