Current Assets Balance Sheet
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9Farm Name
Ending Balance Sheet
Page 13 of 21
Current Assets
Ending Balance Sheet
Date:
/
/ 201
Schedule A: Cash, Savings, and Checking
Description
Value
Cash and checking balances as of the
balance sheet date. Include farm cash,
checking accounts, and checks not yet
deposited. Farm savings accounts would
also be included here.
Schedule B: Prepaid Expenses & Supplies
Description
Quantity
Value
Prepaid expenses and supplies should
include estimated value of feed, seed,
fertilizer, semen, supplies, etc. purchased for
use in the following year's production.
These types of assets are usually valued at
their cost.
Schedule C: Growing Crops
Crop
Acres
Expense item
Total cost
Growing crops would include new hay
st
seedings, winter and cover crops for Jan 1
balance sheets. Include the value of direct
costs such as seed and fertilizer. Only
include pasture or hay fields if newly seeded.
Schedule D: Accounts Receivable
Description
Quantity
Value per unit
Value
Accounts receivable includes $ owed to the
farm but not yet received. For example, the
December final milk check goes here. Enter
gross income here with deductions such as
milk hauling and marketing entered in
accounts payable (on page 19).
Schedule E: Hedging Accounts
Description
Quantity
Value per unit
Value
Hedging accounts includes the equity in all
margin accounts. This should be the
amount of cash received if liquidating all
marketing positions and closing the
accounts.
Schedule F: Other Current Assets
Description
Quantity
Value per unit
Value
Other current assets include the value of any
current business assets not included
elsewhere.
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