Scribd Logo
Upload

Welcome to Scribd!

  • TF 00000053

    Uploaded by

    api-355983822
    143 views2 pages
    Current assets increased from FY-2015 to FY-2017 due to rises in cash, inventories, prepaid expenses, and other current assets. Fixed assets also increased because of growth in property/equipment and leasehold improvements. Total assets grew from $878,900 to $1,018,915 over this period. Current liabilities declined as accounts payable fell, while long-term liabilities and owner's equity each increased.

    Original Description:

    Original Title

    tf00000053

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Current assets increased from FY-2015 to FY-2017 due to rises in cash, inventories, prepaid expenses, and other current assets. Fixed assets also increased because of growth in property/equipment and leasehold improvements. Total assets grew from $878,900 to $1,018,915 over this period. Current liabilities declined as accounts payable fell, while long-term liabilities and owner's equity each increased.

    Copyright:

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

    TF 00000053

    Uploaded by

    api-355983822
    Current assets increased from FY-2015 to FY-2017 due to rises in cash, inventories, prepaid expenses, and other current assets. Fixed assets also increased because of growth in property/equipment and leasehold improvements. Total assets grew from $878,900 to $1,018,915 over this period. Current liabilities declined as accounts payable fell, while long-term liabilities and owner's equity each increased.

    Copyright:

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

    Balance

    Sheet
    FY-2015 FY-2017
    Current Assets
    Cash 300,000 450,000
    Investments 230,000 175,000
    Inventories 5,000 16,000
    Accounts receivable 250,000 120,000
    Pre-paid expenses NONE 100,000
    Other
    Total 785,000 861,000

    Fixed Assets
    Property and equipment 80,000 120,000
    Leasehold improvements 5,000 15,000
    Equity and other investments 9,000 23,000
    Less accumulated depreciation (Negative Value) (100) (85)
    Total 93,900 157,915

    Other Assets
    Charity
    Total 0 0

    Total Assets 878,900 1,018,915

    Current Liabilities
    Accounts payable 250,000 120,000
    Accrued wages 8,000 59,000
    Accrued compensation 32,000 45,000
    Income taxes payable 7,000 13,000
    Unearned revenue
    Other
    Total 297,000 237,000

    Long-term Liabilities
    Mortgage payable 250,000 350,000
    Total 250,000 350,000

    Owner Equity
    Investment capital 120,000 310,000
    Accumulated retained earnings
    FY-2015 FY-2017
    Total 120,000 310,000

    Total Liabilities & Stockholder Equity 667,000 897,000

    You might also like