How to Make a Balance Sheet for Little League Baseball

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Create your balance sheet in a ledger or in an Excel or Word document.
Create your balance sheet in a ledger or in an Excel or Word document. (Image: Thinkstock/Comstock/Getty Images)

Businesses both public and private keep accounting documents known as balance sheets. A balance sheet keeps track of the entirety of an organization's assets and liabilities, often to determine company value. If you operate a Little League Baseball team or an entire league, you might need to reconcile your income and expenses in a balance sheet format.

Write or type "Assets" to label the first section as the money or property that you own or are owed. In the left-hand column underneath "Assets," list your organization's assets in order of liquidity, from most liquid (cash) to least liquid (trademark, building, land). Include "assets receivable," or money the organization is owed--for example, money the organization will receive from concession sales.

Total up the monetary amount of each row and fill in the number in the corresponding cell to the immediate right of the asset. Include only total amounts; if your organization owns multiple baseball diamonds, for example, total the values in a separate document and fill in the total on the balance sheet. Balance sheets should be kept as simple and organized as possible. If you need to, you can refer to the specific pages later.

Write or type "Liabilities" to label the first section as the money or property that you owe others. In the left-hand column underneath "Liabilities," list your organization's liabilities in order of liquidity, from most liquid to least liquid. To determine liquidity, think about which debts could be sold quickest if the Little League organization went out of business.

Total up the monetary amount of each row and fill in the number in the corresponding cell to the immediate right of the liability. Include only total amounts; if your organization owes salaries to multiple umpires, for example, total the values in a separate document and fill in the total on the balance sheet.

Tips & Warnings

  • If you are creating a balance sheet for tax purposes, consult an accountant.

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