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Pro Forma Balance
Sheet, Income Statement and Retained Earnings |
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XYZ Company, Inc.
Balance Sheet
December 31, 20xx |
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This is a sample only |
| Assets |
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Paid Users have full access |
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| Current Assets |
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Click for a detailed
explanation of this debit/credit |
| Cash in Bank |
$400,000 |
1,15,19,48,61 |
| Accounts Receivable |
25,000 |
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| Accured Interest Receivable |
360 |
8 |
| Total Current Assets |
$425,360 |
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| Fixed Assets |
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| Equipment |
20,000 |
15 |
| Less: Accumulated Depreciation |
-2,000 |
18 |
| Total Fixed Assets |
$18,000 |
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| Other Assets |
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| Goodwill |
50,000 |
19 |
| Less: Accumulated amortization |
-3,333 |
20 |
| Goodwill, Net |
$46,667 |
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| Total Assets |
$490,027 |
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| Liabilities |
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Liabilities and Stockholders' Equity are shown as
credit balances for learning purposes. However, in a formal Balance
Sheet and Income Statement, these would all be positive. |
| Current Liabilities |
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| Accounts Payable |
$-5,000 |
24 |
| Accrued Wages Payable |
0 |
31 & 32 |
| Payroll Taxes Payable |
-10,000 |
32 |
| Total Current Liabilities |
$-15,000 |
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| Long-term Debt |
$-400,000 |
48 |
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| Total Liabilities |
$415,000 |
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| Stockholders' Equity |
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| Common Stock |
-5,000 |
61 |
| Retained Earnings |
-70,027 |
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| Total Stockholders' Equity |
$-75,027 |
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| Total Liabilities and Stockholders' Equity |
$-490,027 |
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XYZ Company, Inc.
Income Statement and Changes
in Retained Earnings for
the Year Ended December 31, 20xx |
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| Income Statement |
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| Total Sales |
$-100,000 |
1 & 5 |
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| Expenses |
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| Rent Expense |
750 |
2 |
| Supplies Expense |
5,000 |
24 |
| Salaries & Wages |
50,000 |
31 & 32 |
| Payroll Taxes |
10,000 |
32 |
| Amortization Expense |
3,333 |
20 |
| Depreciation Expense |
2,000 |
18 |
| Total Expenses |
$71,083 |
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| Net Operating Income |
$-28,917 |
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| Other Income & Expense |
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| Interest Income |
-360 |
8 |
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| Net Income |
$-29,277 |
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| Beginning Retained Earnings |
$-40,750 |
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| Ending Retained Earnings |
$-70,027 |
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by: Timothy C. Stewart, CPA
A Professional Corporation
825 Gravenstein Hwy. North, Suite 2
Sebastopol, CA 95472
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Copyright © 2001-2006 Timothy C. Stewart CPA,
A Professional Corporation. All rights reserved.
All suggestions and comments welcome!
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