To obtain financing for her hair salon, Valeri asked you to prepare a balance sheet for her

Question:

To obtain financing for her hair salon, Valeri asked you to prepare a for her business. When she sees it, she is disappointed that the assets exclude a value for her list of loyal customers. What can you tell her to explain why this “asset” has been excluded? Knowing this, what should she tell her banker when they meet next week?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...