Balance Sheet
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Balance sheet
For the year ended April 04, 2019
| 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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