FLORES FLOWER SHOP

BALANCE SHEET
MAY 31 2019
ASSETS LIABILITIES
CURRENT ASSETS CURRENT LIABILITIES
Cash 15,000 Account Payable 21,550
Accounts Receivable 3,000 Taxes Payable 770
Inventory 5,750 Wage Payable 1,650
Prepaid rent 2,000
Selling supplies 580 TOTAL CURRENT LIABILITIES 23,970

TOTAL CURRENT ASSETS 26,330 LONG TERM LIABILITIES 20,000

LONG TERM ASSETS TOTAL LIABILITIES 43,970

Furniture and fixtures 6,300 OWNER’S EQUITY

Investment 15,000
Retained earnings 2,000
TOTAL LONG TERM ASSETS 21,300
Common stock 1,660
TOTAL ASSETS 47,630 TOTAL OWNER’S EQUITY 3,660

TOTAL LIABILITIES AND OWNER’S EQUITY 47,630