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EXAMPLE
3
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XYZ Company, Inc.
Balance Sheet
December 31, 20xx |
| Assets |
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| Current Assets |
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Cash In General Checking
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$24,950 |
Accounts Receivable
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$125,000 |
Inventory
|
$99,750 |
Prepaid Expenses
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$22,500 |
| Total Current Assets |
$272,200 |
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| Fixed Assets |
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Equipment
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$134,750 |
Building
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$325,000 |
Furniture & Fixtures
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$114,450 |
Less: Accumulated Depreciation
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($125,000) |
| Total Fixed Assets |
$449,200 |
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| Other Assets |
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Goodwill
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$100,000 |
Covenant Not To Compete
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$125,000 |
Less: Accumulated Amortization
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($75,000) |
Net
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$150,000 |
Deposits
|
$10,000 |
| Total Other Assets |
$160,000 |
| Total Assets |
$881,400 |
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| Liabilities |
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| Current Liabilities |
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Accounts Payable
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$147,500 |
Accrued Salaries Payable
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$40,000 |
Payroll Taxes Payable
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$19,450 |
Other Accrued Liabilities
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$10,039 |
Current Portion Of Long-Term Debt
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$5,633 |
| Total Current Liabilities |
$222,622 |
| "Long-Term Debt, Net Of"Current
Portion |
$476,828 |
| Stockholders' Equity |
|
| Common Stock |
$10,000 |
| Retained Earnings |
$171,950 |
| Total Stockholders' Equity |
$181,950 |
| Total Liabilities And Stockholders'
Equity |
$881,400 |
For Demonstration Purposes Only
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Copyright © 2004
Timothy C. Stewart CPA,
A Professional Corporation. All rights
reserved.
All suggestions and comments welcome!
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