|
XYZ Balance Sheet as of xx,xx,xxxx
|
|
|
|
|
|
Assets |
|
|
Current Assets |
|
|
Cash
|
5,000
|
|
Petty Cash
|
1,000
|
|
Accounts Receivable
|
10,000
|
|
Prepaid Expenses
|
2,000
|
|
Inventory
|
25,000
|
|
Supplies
|
1,000
|
|
Total Current Assets
|
44,000
|
|
|
|
|
Property & Equipment |
|
|
Land
|
20,000
|
|
Buildings-Net
|
100,000
|
|
Vehicles-Net
|
15,000
|
|
Total Property & Equipment
|
135,000
|
|
|
|
|
Total Assets |
179,000
|
|
|
|
|
Liabilities & Equity |
|
|
|
|
|
Liabilities
|
|
|
Current Liabilities
|
|
|
Accounts Payable
|
10,000
|
|
Taxes Payable
|
3,000
|
|
Accrued Wages
|
2,000
|
|
Note Payable-Current
|
20,000
|
|
Total Current Liabilities
|
35,000
|
|
|
|
|
Long Term Liabilities
|
|
|
Note Payable-Long Term
|
70,000
|
|
|
|
|
Total Liabilities
|
105,000
|
|
|
|
|
Capital
|
|
|
Capital-Beginning
|
50,000
|
|
Net Income
|
24,000
|
|
Total Capital
|
74,000
|
|
|
|
|
Total Liabilities & Equity
|
179,000
|
Note: Profit or Loss was calculated using the Balance Sheet Equation
Assets=Liabilities + Owner's Capital (Beginning Capital +Profit/Loss)
179,000=105,000+50,000 + Profit/Loss
179,000-105,000-50,000 = Profit/Loss
24,000 = Profit/Loss
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