OPENING BALANCE SHEET
In our previous article, we said that we will establish a raw meatball shop with you and make the opening balance sheet for it. Let's say I am not satisfied with my job and I decided to change the sector and set up a company where I would retail the raw meatballs that I love very much. Of course, I have allocated 300,000 TL as the establishment capital for this business.
First of all, I know that I have established a company legally and that I have to collect the documents and apply to the necessary authorities. After completing the necessary documents, I issued 300,000 stocks, since I established the company for 300,000 TL. 300,000 stocks, each number of shares corresponding to 1 TL.
With the capital I had, I decided to buy a shop and bought a shop for 200,000 TL from a wealthy relative at an affordable price. E of course, for the shop, table, chair, etc. I have to buy something called fixtures. I had to allocate a budget of 50.000 TL for these. We bought a shop, put it on a table and a chair, and also made our decoration.
It's time to buy raw meatballs and their ingredients. We allocated 200.000 TL of our money to the shop and 50.000 TL to the fixtures. We have 50.000 TL left. Of this 50.000 TL, 40.000 TL of the raw meatballs and raw meatballs used in lemon, pomegranate syrup, lettuce, lavash and so on. We bought. We kept the remaining 10,000 TL in our safe. Now let's make the opening balance sheet of this company we established.
You see our opening balance sheet above. In our next article, we will create our income statement according to the raw meatball sales activities and calculate the profit of our company. Currently, the price of our company's stock is 1 TL. We will calculate the new price of our stock with the profits we will make in the upcoming period. So, in a way, we will find the book value. Dear readers, see you in our next article.
AUTHOR:
Yilmaz Altun
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