Boston University Financial Concept Worksheet

Your Non-CONNECT assignment #1 is to: Prepare a Personal Income StatementShow your source(s) of income, if any Show your expense(s), if anyYou will then calculate Net Income or Net LossPrepare a Personal Balance SheetShow your Current Assets, if anyShow your Long-Term Assets, if anyShow your Intangible Assets, if anyShow your Current Liabilities, if anyShow your Long-Term Liabilities, if anyShow your Equity, if anyEquity may be the amount needed to ensure that your Balance Sheet balances
AD 632 A2
Financial Concepts
Non-CONNECT Assignment #1 Personal Financial Statements
In the first 2 classes we reviewed the basic Income Statement and Balance Sheet of a sample company,
as well as examples of Assets, Liabilities, etc. Please go to Blackboard, Content Area Non-CONNECT
Homework for Assignment #1 Personal Financial Statements.
Your Non-CONNECT assignment #1 is to:
(1) Prepare a Personal Income Statement
a. Show your source(s) of income, if any
b. Show your expense(s), if any
c. You will then calculate Net Income or Net Loss
(2) Prepare a Personal Balance Sheet
a. Show your Current Assets, if any
b. Show your Long-Term Assets, if any
c. Show your Intangible Assets, if any
d. Show your Current Liabilities, if any
e. Show your Long-Term Liabilities, if any
f. Show your Equity, if any
i. Equity may be the amount needed to ensure that your Balance Sheet
balances
Your Non-CONNECT assignment #1 is due at the beginning of Class #3. Please bring a hard-copy of your
Personal Income Statement and Personal Balance Sheet to class. The assignment will be discussed, then
passed-in, and graded. It will be returned to you at Class #4.

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