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  • Balance Sheet

    Uploaded by

    Alan Van
    14 views2 pages
    This balance sheet shows the assets, liabilities, and owner's equity for Van and sons academic coaching as of August 1st. It lists current assets of $24,500 including $20,000 in cash, $3,200 in accounts receivable, and $1,300 in stock. Total assets are $61,500 including non-current assets of $37,000 such as furniture, buildings, and intangibles. Total liabilities are $28,000 consisting of $8,000 in current liabilities like accounts payable and an overdraft, and $20,000 in a non-current bank loan. Owner's equity totals $32,000 from initial capital of $25,000 and retained

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    This balance sheet shows the assets, liabilities, and owner's equity for Van and sons academic coaching as of August 1st. It lists current assets of $24,500 including $20,000 in cash, $3,200 in accounts receivable, and $1,300 in stock. Total assets are $61,500 including non-current assets of $37,000 such as furniture, buildings, and intangibles. Total liabilities are $28,000 consisting of $8,000 in current liabilities like accounts payable and an overdraft, and $20,000 in a non-current bank loan. Owner's equity totals $32,000 from initial capital of $25,000 and retained

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    14 views2 pages

    Balance Sheet

    Uploaded by

    Alan Van
    This balance sheet shows the assets, liabilities, and owner's equity for Van and sons academic coaching as of August 1st. It lists current assets of $24,500 including $20,000 in cash, $3,200 in accounts receivable, and $1,300 in stock. Total assets are $61,500 including non-current assets of $37,000 such as furniture, buildings, and intangibles. Total liabilities are $28,000 consisting of $8,000 in current liabilities like accounts payable and an overdraft, and $20,000 in a non-current bank loan. Owner's equity totals $32,000 from initial capital of $25,000 and retained

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Assets

    Current Assets
    Cash
    Accounts receivable
    Stock

    Balance Sheet for Van and sons academic coaching as of 1 August


    Liabilities
    $
    Current Liabilities
    $
    20,000
    Accounts Payable
    3000
    3200
    Bank Overdraft
    5000
    1300

    Total Current Asset

    24500

    Non- Curren
    ent Assets
    Furniture
    Building
    Intangibles
    Total NC Assets

    2000
    30000
    5000
    37000

    Total Assets

    61,500

    Total Current Liabilities

    8000

    Non-Current Liabilities
    Bank Loan

    20000

    Total NC Liabilities

    20000

    Owners Equity
    Owners Capital
    Retained PrProfits

    25000
    8500

    Total Ownerers Equity

    32000

    Total Liabilities and

    OE

    61500

    aching as of 1 August
    $

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