INPUT SECTION
INPUT SECTION:
Cash in Bank $7,115.15
Petty Cash $400.00
Marketable Securities $5,000.00
Accounts Receivable $24,100.00
TUTORIAL Allowance for Bad Debts $615.00
Inventory $65,000.00
Office Supplies $1,480.00
Created by: Mendoza, Lyn Justine B. Prepaid Insurance $5,315.00
Land $10,000.00
Buildings $65,000.00
Accumulated Depreciation - B$9,750.00
Warehouse $30,000.00
Accumulated Depreciation - $5,400.00
Trucks $16,000.00
Accumulated Depreciation - T$9,000.00
Office Equipment $8,700.00
Accumulated Depreciation - O$3,915.00
Accounts Payable $14,190.00
Notes Payable, Short-Term $25,000.00
Interest Payable $215.00
Income Taxes Payable $300.00
Liability for Payroll Taxes $1,800.00
Notes Payable, Long-Term $70,000.00
Davis, Capital $97,745.15
Scent N Light Candle
BALANCE SHEET
December 31, 1997
ASSETS
Current Assets
Cash in Bank $7,115.15
Petty Cash $400.00
Marketable Securities $5,000.00
Accounts Receivable $24,100.00
Allowance for Bad Debts $615.00 $23,485.00
Inventory $65,000.00
Office Supplies $1,480.00
Prepaid Insurance $5,315.00
Total Current Assets $107,795.15
Noncurrent Assets
Land $10,000.00
Buildings $65,000.00
Less: Accumulated Deprecia$9,750.00 $55,250.00
Warehouse $30,000.00
Less: Accumulated Depreci $5,400.00 $24,600.00
Trucks $16,000.00
Less: Accumulated Deprecia$9,000.00 $7,000.00
Office Equipment $8,700.00
Less: Accumulated Deprecia$3,915.00 $4,785.00
Total Noncurrent Assets $101,635.00
Total Assets $209,430.15
LIABILITIES AND OWNER’S EQUITY
Current Liabilities
Accounts Payable $14,190.00
Notes Payable, Short-Term $25,000.00
Interest Payable $215.00
Income Taxes Payable $300.00
Liability for Payroll Taxes $1,800.00
Total Current Liabilities $41,505.00
Noncurrent Liabilities
Notes Payable, Long-Term $70,000.00
Total Noncurrent Liabilities $70,000.00
Total Liabilities $111,505.00
Owner's Equity
Davis, Capital $97,745.15
Total Owner's Equity $97,745.15
Total Liabilities and Owner’s Equity $209,250.15
