When I was making a balancing sheet, I found out that it was very hard and confusing. Though, in the end I understand and learned how to create a balance sheet. Plus, I learned that an asset is something that a company owns or something that can make you money. I also learned that liabilities are the amounts that you owe.
For my balancing sheet, I chose to be a teacher after I graduate from university. My income that I make is $3092.09, my original income is $43,653 but I subtracted the tax ($43,653 X 0.15) from it. The money I put in bonds is $500 while my investments is $416.66. My total current assets are $4008.75.
For my liabilities, I have to pay each month for my car loans and I have to pay $365. While the condo I’m renting, I have to pay per month $270. I also have to pay my mortgages per month and I have to pay $1000. The total of my current liabilities is $1635.
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