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Balance Sheet

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Balance sheet
For the year ended April 04, 2015
  Assets
Current Assets
Cash and Cash Equivalent 10,253.00  
Accounts Receivable 1,852.53  
(Reserve for Bad Debts) (1,020.00)  832.53  
Merchandise Inventory 21,480.77  
Short Term Investments 2,000.00  
Prepaid Expenses 5,369.21  
Short Term Notes Receivable 2,523.10  
Total Current Assets $42,458.61  
Fixed Assets
Land 25,000.00  
Buildings and Improvements 18,500.00  
(Accumulated Depreciation) (1,850.00)  16,650  

Equipment and Machinery

5,490.00  
(Accumulated Depreciation) (549.00)  4,941  

Furniture and Fixtures

3,698.00  
(Accumulated Depreciation) (156.00)  3,542  

Vehicles

14,590.00  
(Accumulated Depreciation) (459.00)  14,131  
Total Current Assets $64,264.00  
Other Assets
Goodwill 15,000.00  
(Amortization)  
15,000  
Long-Term Investment 5,000.00  
Other Assets  
Total Current Assets $20,000.00  

Total Assets

$126,722.61  
  Liabilities and Capital
Current Liabilities
Accounts Payable 6,854.00  
Accrued Sales Taxes Payable
Accrued Payroll Taxes Payable 1,210.00  
Accrued Wages Payable 862.00  
Unearned Revenues
Short-Term Notes Payable
Short-Term Bank Loan Payable 4,560.00  
Total Current Liabilities $13,486.00  
Long-Term Liabilities
Long-Term Notes Payable
Mortgage Payable
Long Term Debt 3,500.00  
Total Long-Term Liabilities $3,500.00  
Total Liabilities $16,986.00  
Capital
Owner’s Equity 30,000.00  
Opening balance of Retained Earnings 5,500.00  
Current year Profit (Loss)
Retained Earnings 5,500.00  
Total Capital $35,500.00  
Total Liabilities and Capital $52,486.00  


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