EXAMPLE DEALER, INC.
Balance Sheet
December 31, XXXX
| 1 | ASSETS | ||
| 2 | CURRENT ASSETS: | ||
| 3 | Cash | $ 30,300 | |
| 4 | Accounts Receivable | 109,700 | |
| 5 | Employee Receivables | 2,400 | |
| 6 | Notes Receivables | 4,600 | |
| 7 | Prepaid Expenses | 6,800 | |
| 8 | Costs & Estimated Earnings in Excess of Billings | 36,200 | |
| 9 | Inventory | 83,000 | |
| 10 | Total Current Assets | $273,000 |
|
| 11 | FIXED ASSETS | ||
| 12 | Building | $ 82,000 | |
| 13 | Office Furniture & Equipment | 9,800 | |
| 14 | Machinery & Equipment | 16,200 | |
| 15 | Autos & Trucks | 73,600 | |
| 16 | Leasehold Improvements | 12,400 | |
| 17 | Total Depreciable Assets | $194,000 | |
| 18 | Less: Accumulated Depreciation | $ 87,000 | |
| 19 | Net Book Value | $107,000 | |
| 20 | Plus: Land | $ 43,000 | |
| 21 | Total Fixed Assets | $150,000 | |
| 22 | OTHER ASSETS | ||
| 23 | Cash Surrender Value, Officer’ Life Insurance | $ 4,600 | |
| 24 | Deposits | 5,400 | |
| 25 | Total Other Assets | $ 10,000 | |
| 26 | TOTAL ASSETS |
$433,000
|
|
| 27 |
LIABILITIES & NET WORTH |
||
| 28 | CURRENT LIABILITIES | ||
| 29 | Accounts Payable | $ 80,100 | |
| 30 | Notes Payable, Current Portion | 17,000 | |
| 31 | Taxes Payable | 1,200 | |
| 32 | Accrued Salaries & Wages | 850 | |
| 33 | Billings on Incomplete Contracts in Excess of Costs | 43,000 | |
| 34 | Reserve for Start-Up & Warranty Service | 12,500 | |
| 35 | Reserve for Service Contracts | 16,200 | |
| 36 | Total Current Liabilities | $160,850 |
|
| 37 | LONG TERM LIABILITIES | ||
| 38 | Notes Payable | $ 54,000 | |
| 39 | Less: Current Portion | (17,000) | |
| 40 | Total Long-Term Liabilities | $ 37,000 | |
| 41 | Total Liabilities | $197,850 |
|
| 42 | NET WORTH | ||
| 43 | Capital Stock | $ 10,000 | |
| 44 | Paid in Capital | 35,700 | |
| 45 | Retained Earnings | 189,450 | |
| 46 | Total Net Worth | $ 235,150 | |
| 47 | TOTAL LIABILITIES & NET WORTH | $433,000 | |
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