By filling out a personal balance sheet, you will be able to determine your net worth. Finding out your net worth is an important early step in the process of becoming a business owner because you need to find out what assets are available to you for investment in your business.

              Statement of Financial Condition  ___________  20____

         Assets                                                                                                                                                                TOTALS

Cash/Checking and Savings Accounts
Marketable Securities
Nonmarketable Securities
Real Estate/Home
Partial Interest in Real Estate
Automobiles
Personal Property
Personal Loans
Insurance Cash Values
Other
Total Assets	A

         Liabilities                                                                                                                                 TOTALS 

Secured Loans
Unsecured Loans
Credit Card/Charge Account Bills
Personal Debts
Current Monthly Bills
Real Estate Mortgages
Unpaid Income Tax
Other Unpaid Taxes and Interest
Other Itemized Debts
Total Liabilities	B
Net Worth (A – B  = C)	C
Total Liabilities & Net Worth	D

 Degree of Debt

Note: If total liabilities exceed total assets, subtract assets from liabilities to determine degree of debt (B – A = E)
	Total Liabilities	B
	Total Assets	A
	Degree of Debt	E

 

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