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Balance Sheet: For Year Ending December 31, 2010

The balance sheet shows the company had total assets of $2095 for the year ending December 31, 2010, including current assets of $551 such as cash, accounts receivable, and inventory, and fixed assets of $1544 such as land, buildings, equipment, and furniture. Total liabilities were $1530, consisting of current liabilities of $265 and long-term liabilities of $1265 such as mortgages. Shareholders' equity was $565, including initial capital contributions and net profit for the year.

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Ali Raza Awan
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88 views1 page

Balance Sheet: For Year Ending December 31, 2010

The balance sheet shows the company had total assets of $2095 for the year ending December 31, 2010, including current assets of $551 such as cash, accounts receivable, and inventory, and fixed assets of $1544 such as land, buildings, equipment, and furniture. Total liabilities were $1530, consisting of current liabilities of $265 and long-term liabilities of $1265 such as mortgages. Shareholders' equity was $565, including initial capital contributions and net profit for the year.

Uploaded by

Ali Raza Awan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Balance Sheet

For Year Ending December 31, 2010

ASSETS Current Assets Cash closing Accounts receivable (less doubtful accounts) bank closing closing stock Temporary investment Prepaid expenses Total Current Assets Fixed Assets Long-term investments Land Buildings (less accumulated depreciation) Plant & equipment (less accumulated depreciation) Furniture & fixtures

51 340 (129) 100 175 12 2 551 $40 650 741 (132) 560 (331) 57

LIABILITIES Current Liabilities Accounts payable

237

Interest payable Taxes payable Accrued payments Total Current Liabilities Long-term Liabilities Mortgage/long term loan Other long-term liabilities Total Long-term Liabilities

5 10 13 265 840 425 1265

(less accumulated depreciation) Total Net Fixed Assets TOTAL ASSETS

(41) 1544 2095

Shareholders' Equity Capital Fresh introduced capital drawings Net Profit Total Shareholders' Equity TOTAL LIABILITIES & EQUITY

300.00 100.00 (100.00) 265 565 2095

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