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BUSINESS ADVISOR
EARNHART SURGERY CENTER, FEBRUARY 2013
Sample (Balanced) Balance Sheet
ASSETS
Current
Cash
Petty cash
Accounts receivable
Inventory
Supplies
Prepaid insurance
Net
Property, Building, Equipment
Land
Equipment
Depreciation
Net
Intangible Assets
Total assets
$44,750
$275
$850,000
$45,000
$4,500
$2,100
$946,625
$230,000
$2,215,000
($156,000)
$2,289,000
$50,000
$3,285,625
LIABILITIES
Current
Accounts payable
Notes (loans)
Wages
Interest
Net
$145,000
$2,500
$545,000
$4,000
$696,500
Long-term
Notes (loans)
$50,000
OWNERS' EQUITY
Shares/stock
$2,539,125
Total liability and equity
$3,285,625
investments; property, building, equipment; intangible assets; and
"other" assets (the catch-all category, where your prepaid marketing
might fall). There can be more categories, but these are the major
ones.
When you start to analyze, it gets a bit more complex. For example,
you can count some assets as "allowance for doubtful accounts" —
money you're owed but that you're unlikely to receive, such as A/R
over 120 days. Some accountants will severely discount any accounts
over a certain age. Your accountant will know the formulas and apply
them to the various overdue A/R (for example, counting 1% of A/R
overdue by 6 months), but if you want to generate a balance sheet
from scratch, feel free to ask for this information. Mostly, it's important
that you're able to read and understand a balance sheet when there's
call for it.
F E B R U A R Y 2013 | O U T PAT I E N T S U R G E R Y M A G A Z I N E O N L I N E
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