Jan 31, 18
ASSETS
Current Assets
Checking/Savings
1100 ꞏ Checking 36,154.39
Total Checking/Savings 36,154.39
Accounts Receivable
1200 ꞏ Accounts Receivable 12,938.07
Total Accounts Receivable 12,938.07
Other Current Assets
1120 ꞏ Inventory Asset 44,869.06
1300 ꞏ Supplies
1310 ꞏ Office Supplies 550.00
1320 ꞏ Sales Supplies 550.00
Total 1300 ꞏ Supplies 1,100.00
1400 ꞏ Prepaid Insurance 1,100.00
Total Other Current Assets 47,069.06
Total Current Assets 96,161.52
Fixed Assets
1510 ꞏ Office Equipment
1511 ꞏ Original Cost 5,000.00
1512 ꞏ Depreciation -83.33
Total 1510 ꞏ Office Equipment 4,916.67
1520 ꞏ Store Fixtures
1521 ꞏ Original Cost 6,000.00
1522 ꞏ Depreciation -100.00
Total 1520 ꞏ Store Fixtures 5,900.00
Total Fixed Assets 10,816.67
TOTAL ASSETS 106,978.19
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
2000 ꞏ Accounts Payable 14,789.65
Total Accounts Payable 14,789.65
Total Current Liabilities 14,789.65
Long Term Liabilities
2500 ꞏ Loans Payable
2510 ꞏ Office Equipment Loan 2,989.67
2520 ꞏ Store Fixtures Loan 4,982.79
Total 2500 ꞏ Loans Payable 7,972.46
Total Long Term Liabilities 7,972.46
Total Liabilities 22,762.11
Equity
3000 ꞏ Owners’ Equity -6,850.94
3100 ꞏ Your Last Name & Wells, Capital
3110 ꞏ First and Last Name, Capital
3111 ꞏ First and Last Name, Investment 30,000.00
3110 ꞏ First and Last Name, Capital – Othe
r
12,108.04
Total 3110 ꞏ First and Last Name, Capital 42,108.04
Y
our Name’s Desert Gol
f
Balance Sheet
As of January 31, 2018
Page 1
Practice Set 2, Document 82
Copyright © 2019 Pearson Education, Inc. All Rights Reserved
Jan 31, 18
3120 ꞏ Anne Wells, Capital
3121 ꞏ Anne Wells, Investment 30,000.00
Y
our Name’s Desert Gol
f
Balance Sheet
As of January 31, 2018