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Jc Balance Sheet

Key Terms

Current assets These are short-term assets that will come to and go from the business throughout the year, e.g. stock.
Current liabilities These consist of money owed by the firm that must be paid back within a year, e.g. an electricity bill.
Total net assets Fixed assets + working capital
Reserves The amount of profit that is retained in the business on a particular date.
Debtors People who owe the business money
Creditors People the business owes money to
Authorised share capital The amount of share capital the company can issue.
Issued share capital The amount of share capital that has already been issued to the shareholders.
Long term liabilities Money that is owed by the firm over a longer period. e.g. a 10 year term loan.
Capital employed This is the total of the bottom part of the balance sheet: Share capital + reserves + long term liability
Created by: ms.scahill



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