Question

How do you prepare a balance sheet

Answer 1

Determine the Reporting Date and Period. ...
Identify Your Assets. ...
Identify Your Liabilities. ...
Calculate Shareholders' Equity. ...
Add Total Liabilities to Total Shareholders' Equity and Compare to Assets.

Answer 2

1.

Determine the reporting Date and period. 2. Identify your assets. 3. Identify your liabilities.

4. Calculate shareholders' equity.

Add total liabilities to total shareholders' equity and compare to the assets.