NAVMEEN LATIF-2027644

Balance Sheet as of June 01

Amount Amount
ASSETS
Non-current asset
Land 89,700
Building 429,000
Equipment 7,956
Total non-current assets 526,656
Current asset
Merchandise Inventory 29,835
Supplies on hand 5,559
Financial asset
Cash 34,983
Accounts receivable 21,798
Note Receivable 11,700
Prepaid Insurance 3,150
Total current asset 107,025
Other non-current asset 4,857
Total asset 638,538
EQUITY & LIABILITIES
Current liabilities
Accounts payable 8,517
Accrued wages payable 1,974
Bank notes payable 8,385
Taxes payable 5,700
Total current liabilities 24,576
Other non-current liabilities 2,451
Total liabilities 27,027
Owner’s equity
Capital Stock 390,000
Retained earning 221,511
Total owner’s equity 611,511
Total equity & liabilities 638,538
 Balance Sheet as of June 30
Amount Amount
ASSETS
Non-current asset
Land 89,700
Building 427,050
Equipment 30,732
Total non-current assets 547,482
Current asset
Merchandise Inventory 26,520
Supplies on hand 6,630
Financial asset
Cash 66,660
Accounts receivable 26,505
Prepaid Insurance 2,826
Total current asset 129,141
Other non-current asset 5,265
Total asset 681,888
EQUITY & LIABILITIES
Current liabilities
Accounts payable 21,315
Accrued wages payable 2,202
Bank notes payable 29,250
Taxes payable 7,224
Total current liabilities 59,991
Other non-current liabilities 2,451
Total liabilities 62,442
Owner’s equity
Capital Stock 390,000
Retained earning 229,446
Total owner’s equity 619,446
Total equity & liabilities 681,888