Module 2 – SLP Below find a balance sheet for VWV Company

Module 2 – SLP

Below find a balance sheet for VWV Company. 

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VWV Company


Balance Sheet


 December 31, 20XX


























Current assets




Current liabilities

















Accounts payable




Accounts receivable




Interest payable




Interest receivable















Total current assets




Total current liabilities












Long-term assets




Long-term liabilities













Equipment (net of depreciation)




Note payable











Total long-term assets




Total long-term liabilities

























Common stock








Paid-in capital








Retained earnings















Total equity










Total assets




Total liabilities and equity


















· Recreate the balance sheet in an Excel spreadsheet. Use cell formulae to add and subtract numbers. Add a column next to the balance sheet for answers to the questions listed below.


· Is accounts payable larger or smaller than accounts receivable? What is the difference? What do the numbers indicate? Explain.

· What does “equipment net of depreciation” mean?

· Are payables short-term or long-term?

· Determine total liabilities.

· Determine net short-term assets or liabilities.

· Determine the total amount owed by VWV at the end of the year.

· How do we know that the above is a corporate (not a sole proprietor) balance sheet?

SLP Assignment Expectations

Submit the Excel spreadsheet. All information should be part of the spreadsheet. Written comments should be brief and refer to the balance sheet. Both content and presentation matter.

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