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Determine the reporting date and period. Web how the balance sheet is structured current assets. Adjusting journal entries is necessary before preparing the four basic financial statements, including the. When setting up a balance sheet, you should order. The most liquid of all assets, cash, appears on the first line of the balance sheet. Web here is the general order of accounts within current assets: Web components of a balance sheet assets. A balance sheet is meant to depict the total assets, liabilities, and. Adjust entries in the general journal. Web how to prepare a basic balance sheet 1. Assets are any resources your company owns that holds value. Web 4 tasks to complete before preparing a balance sheet. A liability is money that. Property, plant, and equipment (also.