FORMAT FOR BALANCE SHEET
The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital section will change to reflect the capital contribution by each partner..
Example of a balance sheet where there are 3 partners A, B and C.
Non Current assets
|
Cost (Shs)
|
Depreciation (Shs)
|
NBV (Shs)
|
|
Land & Buildings
|
X
|
X
|
X
|
|
Fixtures & Fittings
|
X
|
X
|
X
|
|
Plant & Machinery
|
X
|
X
|
X
|
|
Motor Vehicles
|
X
|
X
|
X
|
|
|
XX
|
XX
|
XX
|
|
Investments, goodwill etc
|
|
|
X
|
Current Assets
|
|
|
|
|
Inventory
|
|
X
|
|
|
Receivables
|
X
|
|
|
|
Less provision for bad and doubtful debts
|
(X)
|
X
|
|
|
Prepayments
|
|
X
|
|
|
Bank
|
|
X
|
|
|
Cash
|
|
X
|
|
|
|
|
X
|
|
Current Liabilities
|
|
|
|
|
Payables
|
X
|
|
|
|
Accruals
|
X
|
(X)
|
|
|
Working capital (C.A – C.L)
|
|
|
X
|
|
|
|
|
XX
|
|
Financed by:
|
|
|
|
|
Capitals: A
|
|
|
X
|
|
B
|
|
|
X
|
|
C
|
|
|
X
|
|
|
|
X
|
|
Current A/Cs: A
|
|
X
|
|
|
B
|
|
X
|
|
|
C
|
|
(X)
|
X
|
|
|
|
|
X
|
|
Long term loans
|
|
|
X
|
|
|
|
|
XX
|