Professional Documents
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The
Financial Statements
The
Financial Statements
Comments
Kelly Supply
Balance Sheet
December 31, 2015
Assets:
Cash
Accounts receivable
Interest receivable
Merchandise inventory
Prepaid rent
Machinery
Less: Accumulated depreciation
Patent
Total assets
$ 9,500
22,000
50
13,000
2,000
$26,000
8,000
18,000
4,500
$69,050
Kelly Supply
Balance Sheet
December 31, 2015
Liabilities and stockholders equity:
Accounts payable
Wages payable
Interest payable
Dividends payable
Unearned revenue
Short-term notes payable
Long-term notes payable
Common stock
Retained earnings
Total liabilities and stockholders equity
$ 5,000
1,000
2,000
1,000
1,000
2,500
10,000
40,000
6,550
$69,050
7
9,000
8,000
1,000
3,000
3,000
2,5509