Knowing what a balance sheet is crucial. You can find our sample balance sheet at the end of the article. A balance sheet is a snapshot of the financial condition of a business at a specific moment in time, usually at the close of an accounting period. A balance sheet comprises assets, liabilities, and owners’ or stockholders’ equity. It is not sure, you will get same amount of goodwill what is showing in your books or balance sheet because. Time is changing and if you have sold the goodwill also with your business, you can get excess or low amount of goodwill difference will be profit or loss on selling of goodwill. Mar 21, 2018 · When looking at a balance sheet, goodwill can be found as an asset account. Goodwill is an intangible asset, meaning an asset that cannot be sold or transferred. Cash, investments, equipment, factories, and other tangible assets are fairly easy to appraise. The balance sheet can be the single most frustrating thing for a business owner. If you are having trouble with your balance sheet my first suggestion is to hire an accountant. My second suggestion is to use Quickbooks which automatically generates your balance sheet so that you don’t have to worry about it. The opening balance sheet for your business should also include owner's equity, net profit, liabilities, and working capital. Learn how to create one in this detailed guide. Both new and existing businesses will need to know how to estimate their opening balance sheet.