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    Crystal Computers' balance sheet for the year ending December 31, 2010 shows total current assets of $2,715,368 including cash/bank of $1,415,718 and inventory of $1,299,650. There are no current liabilities. Long term liabilities include a loan of $1,739,470. Owner's equity consists of capital of $1,000,000, profit for the year of $282,298, and no drawings with total equity equal to $3,021,768.

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    Crystal Computers' balance sheet for the year ending December 31, 2010 shows total current assets of $2,715,368 including cash/bank of $1,415,718 and inventory of $1,299,650. There are no current liabilities. Long term liabilities include a loan of $1,739,470. Owner's equity consists of capital of $1,000,000, profit for the year of $282,298, and no drawings with total equity equal to $3,021,768.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    11 views1 page

    Balance Sheet

    Uploaded by

    haroonhabibi
    Crystal Computers' balance sheet for the year ending December 31, 2010 shows total current assets of $2,715,368 including cash/bank of $1,415,718 and inventory of $1,299,650. There are no current liabilities. Long term liabilities include a loan of $1,739,470. Owner's equity consists of capital of $1,000,000, profit for the year of $282,298, and no drawings with total equity equal to $3,021,768.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Crystal Computers

    Balance Sheet
    For the Year Ended 31st December 2010

    Assets Equity & Liabilities

    Current Assets

    Cash/ Bank 1,415,718 Current Liabilties

    Inventory 1,299,650
    -
    Total Current Assets 2,715,368 Total Current Liabilties -

    Long Term Loan 1,739,470

    Owner Equity
    Fixed Assets Capital 1,000,000
    Profit for the year
    Furniture & Fixture 356,000 Less: Drawings
    Less : Depreciation 49,600 Retained Earnings 282,298
    Total Fixed Assets 306,400

    Total 3,021,768 Total 3,021,768

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