2006-11-06 14:43:06 · 3 answers · asked by Mike 2 in Business & Finance ➔ Other - Business & Finance
A balance sheet is a figurative snapshot picture of the company's assets, liabilities and equity at the end of the reporting period.
Thus, the the cash column is not the beginning balance.
Depending on your definition, it is not the "current" balance if you define "current" as now. The reported cash balance is the balance at the end of the reporting period (e.g. fiscal quarter, fiscal half-year, fiscal year) as denoted at the top of the balance sheet. "Now" is always after the fiscal reporting period since it always takes some time to close the accounting books and report results. But that's being a bit picky.
2006-11-06 15:00:37 · answer #1 · answered by csanda 6 · 0⤊ 0⤋
Just as Csanda said. Cash is how much money you had at the end of the month you are reporting. So if the Balance Sheet says Month Ended December 31, 2005, that is how much money the company had in its account on 12/31/05.
2006-11-07 06:22:28 · answer #2 · answered by potatochip 7 · 0⤊ 0⤋
Is it possible that 2004 is the first year of operations?
2016-05-22 05:59:40 · answer #3 · answered by Melissa 3 · 0⤊ 0⤋