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Heres a definition of common balance sheet account types youll find in most chart of accounts. These assumptions are required to be formulated in order to drive the business. Its key because it shows at a glance what you owe and what you own. Project Construction Business Balance Sheet Template for independent contractors. The balance sheet highlights your companys long-term financial health so you can see how well your company is currently doing and how this compares with past years in business. For example you make a run to the craft store to purchase craft glue. What you owe ie liabilities. Ad Create Yours Today Get a Stunning Online Storefront to Showcase Your Products. A balance sheet is simply what you own ie. If youre anyone else the Free Business Balance Sheet Template Excel format and the Blank Business Balance Sheet Template Word docdocx are easy ways to get started.
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