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  • Balance Sheet

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    Muhammad Helmi Nasution
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    The law firm of Paxton, Crow & Bragg has total assets of $758,408.66 as of February 2005, including $752,908.66 in current assets such as cash accounts and petty cash. Total liabilities are $642,202.76, consisting of $630,642.76 in current liabilities like trust account liability and payroll taxes, as well as $11,560 in long term liabilities for equipment leases. Equity stands at $116,205.90 in retained earnings.

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    The law firm of Paxton, Crow & Bragg has total assets of $758,408.66 as of February 2005, including $752,908.66 in current assets such as cash accounts and petty cash. Total liabilities are $642,202.76, consisting of $630,642.76 in current liabilities like trust account liability and payroll taxes, as well as $11,560 in long term liabilities for equipment leases. Equity stands at $116,205.90 in retained earnings.

    Copyright:

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    7 views2 pages

    Balance Sheet

    Uploaded by

    Muhammad Helmi Nasution
    The law firm of Paxton, Crow & Bragg has total assets of $758,408.66 as of February 2005, including $752,908.66 in current assets such as cash accounts and petty cash. Total liabilities are $642,202.76, consisting of $630,642.76 in current liabilities like trust account liability and payroll taxes, as well as $11,560 in long term liabilities for equipment leases. Equity stands at $116,205.90 in retained earnings.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 2

    Paxton, Crow & Bragg, P.A.

    Balance Sheet
    As of February 2005

    ASSETS
    CURRENT ASSETS
    Cash - Operating Account $125,662.86
    Cash - Trust Account I $626,195.80
    Cash - Payroll Account $1,000.00
    Petty Cash $50.00

    TOTAL CURRENT ASSETS $752,908.66


    FIXED ASSETS
    Furniture, Fixtures & Equipment $7,000.00
    Accumulated Depreciation ($1,500.00)

    TOTAL FIXED ASSETS $5,500.00

    TOTAL ASSETS $758,408.66


    Paxton, Crow & Bragg, P.A.
    Balance Sheet
    As of February 2005

    LIABILITIES
    CURRENT LIABILITIES
    Trust Account Liability $626,195.80
    Payroll Taxes Payable $4,446.96

    TOTAL CURRENT LIABILITIES $630,642.76


    LONG TERM LIABILITIES
    Copier Lease $7,280.00
    Telephone Lease $4,280.00

    TOTAL LONG TERM LIABILITIES $11,560.00

    TOTAL LIABILITIES $642,202.76


    CAPITAL
    EQUITY
    Retained Earnings (Profit/Loss) $116,205.90

    TOTAL EQUITY $116,205.90

    TOTAL CAPITAL $116,205.90

    TOTAL CAPITAL And LIABILITIES $758,408.66

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