The opening day balance sheet calculates total assets and liabilities on the first day a business is open.
Sample text from Opening Day Balance Sheet:
Opening Day Balance Sheet
| Current Assets | $ | Current Liabilities | $ |
|---|---|---|---|
| Accounts receivable | Short-term notes | ||
| Cash | Accounts payable | ||
| Inventory | Interest payable | ||
| Prepaid expenses | Taxes payable | ||
| Other Current Assets | Accrued payroll | ||
| TOTAL CURRENT ASSETS | TOTAL CURRENT LIABILITIES |
| Fixed Assets | $ | Long-term Liabilities | |
|---|---|---|---|
| Long-term investments | Mortgage | ||
| Land | Bank loans | ||
| Buildings | Other long-term liabilities | ||
| Equipment | |||
| Furniture & fixtures | |||
| (less accumulated depreciation on all) | |||
| TOTAL FIXED ASSETS | TOTAL LONG-TERM LIABILITIES |
| Other Assets | $ | Shareholders' Equity | |
|---|---|---|---|
| Capital stock | |||
| Retained earnings | |||
| TOTAL OTHER ASSETS | TOTAL SHAREHOLDERS' EQUITY |
| TOTAL ASSETS | TOTAL LIABILITIES & EQUITY |
|---|
