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Download the Farm Balance Sheet Template that is designed to assist farming businesses and bookkeepers in keeping assets, liabilities etc, up to date. As well, by keeping these records, if farming loans and/or grants are needed, these records, if kept well, will make it very easy and fast to provide appropriate information to the appropriate institution to whom the inquiry would be made. Collect supporting documentation as you go.

How To Write

Step 1 – Section 1 – Assets-

  • Begin by placing the “As of” date and year at the top of the page

Current Assets –

  • Be certain, as you complete this sheet that you only list the information that is directly supported and associated with your farming business
  • Cash and Checking
  • Accounts Receivable
  • Prepaid Expenses
  • Cash Investment In Growing Crops
  • Inventory- As Follows:
  • Marketable Livestock
  • Raised Crops and Feed
  • Purchased Feed
  • Supplies
  • Any Other Assets Not Named Here (Use a separate sheet if needed)
  • Provide market and cost value on all items listed
  • Calculate all lines to acquire asset values and place in the totals

Step 2 – Section 2 – Non-Current Assets –

  • Breeding livestock purchased
  • Breeding livestock raised
  • Machinery and Equipment
  • Vehicles
  • Investments in Capital Leases
  • Contracts and Notes Receivable
  • Investments in Cooperatives
  • Real Estate
  • Buildings and Improvements
  • Other Non-Current Assets
  • Calculate lines 1-20 and enter totals
  • Total Farm Assets 10 plus line 21 and enter the figure

Step 3 – Section 3 – Liabilities and Equities –

Current Liabilities –

  • Accounts and Notes Payable
  • Line of Credit and Operating Notes
  • Current Portion of Term Debt
  • Accrued Interest
  • Taxes Payable
  • Taxes Payable Emp. Withholding
  • Taxes Payable Income Taxes
  • Taxes Payable Deferred Taxes
  • Other Accrued Expenses
  • Other Current Liabilities
  • Calculate by adding lines 23-32

Step 4- Section 4 – Non Current Liabilities –

  • Non-Current Portion of Term Debt
  • Deferred Taxes
  • Other Non-Current Liabilities
  • Calculate by adding line 34-36
  • Also enter total farm liabilities
  • Contributed Capital
  • Retained Earnings
  • Total Valuation Equity
  • Calculate lines 22 through 38 and enter into farm equity box
  • Calculate by adding lines 38 through 42 to acquire Total Farm Liabilities and Equities figures, then enter them into the final lines on the form

 

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