Nov 26

Dragons Den

Balance Sheet Equation: Assets = Liabilities + Owner Equity  (should always equal)

Questions.  Read Pages 280-284

1. What does Owners Equity mean?

2. What is the Balance Sheet Equation?

3. What does Liquidity mean?

4. List and briefly explain all of the steps to create a balance sheet.

Read Pages 285-288

5. What is an Income Statement?

6. Briefly explain the steps in setting up an income statement.