Example Balance Sheet

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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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