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Every day brings new projects, emails, documents, and task lists, and often it is not that different from the work you have done before. Many of our day-to-day tasks are similar to something we have done before. Don't reinvent the wheel every time you start to work on something new!
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Assets Liabilities Current assets Cash in bank Accounts receivable Inventory Total current assets Current Liabilities Accounts payable Short-term loans Other payments due in 12 months Total current liabilities Fixed assets Land Buildings Less depreciation Net land buildings Equipment Less depreciation Net equipment Cars trucks Less depreciation Net cars trucks Long-term liabilities Long-term loans (due after 1 year) Mortgage Total long-term liabilities Total liabilities (L) Owners equity Investment Retained earnings Total owners equity (E) Total assets (A) Total liabilities and owners equity Total assets equals total liabilities plus owners equity or A=L+E "Investment" represents the amount you and/or your partners or other owners have invested in the business..