15. Let’s talk money language
That’s the name for
Where the money came from
(also known as SOURCE)
Liability
16. Like any language
money language also has a vocabulary
Money that you put in is
Owner’s Capital
*
When you have a Partner (like Tommy) that’s
Shareholders Capital
*
Loan from Mom or Dad known as
Loans
17. Let’s go get that Playstation and hook it up
Where the Money went
18. Lets play with the games
that came with the Playstation
Image of 2 kids buying a playstation
19. Time
For some more Money Language
ASSETS
OR
Where the Money went
(also known as Application of Funds)
21. A statement Balancing
Where the money came from
with
Where the Money went
Is called a Balance Sheet
Back to the Money Language
22. Our very 1st
Balance Sheet
Liabilities
(Where the Money came from)
*
Shareholders Capital
ME $60
Tommy $60
*
Loans
Dad $50
Total $170
Assets
(Where the Money went)
Playstation $150
*
Cash Balance $20
(Money Left Over)
Total $170
Editor's Notes
Suggested name: the five-minute balance sheet. Suggested name for the second chapter: the four-minute balance sheet. "Making your own computers".
And your
At the end of the slide there could be snippets of comments. You can get just about anything if you plan right. Let’s show you.
Information integrity: the correct definition of a balance sheet. Assets are equal to liabilities plus your own capital. To be explained subsequently.
