Balance Sheet

M&K Resto and Cafe

As at 31 December 2020
31 DEC 2020

Assets
Bank
Business Bank Account 4,872.25
Total Bank 4,872.25

Current Assets
Accounts Receivable 465,123.26
Maintenance Supplies 457,305.35
Merchandise Inventory 49,330.36
Office Supplies 3,294.64
Total Current Assets 975,053.61

Fixed Assets
Accum. Depr.-Office Equipment (4,276.17)
Accum. Depr.-Vehicle (24,633.10)
Computer Equipment 1,969.99
Less Accumulated Depreciation on Office Equipment (4,350.00)
Office Equipment 19,793.79
Vehicles 117,800.00
Total Fixed Assets 106,304.51

Total Assets 1,086,230.37

Liabilities
Current Liabilities
Accounts Payable 21,994.96
Accrued Expenses (710.00)
Business Savings Account 1,000.00
Cash 523,670.48
Sales Tax (7,687.20)
Total Current Liabilities 538,268.24

Total Liabilities 538,268.24

Net Assets 547,962.13

Equity
Current Year Earnings 388,987.13
M&K, Capital 162,975.00
M&K, Drawing (4,000.00)
Total Equity 547,962.13

Balance Sheet M&K Resto and Cafe