Glass_Jessica_ ABC Corperation

Glass_Jessica_ ABC Corperation - $ 10,000.00 Retained...

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ABC Corporation Balance Sheet As of December 31, 2010 Jessica Glass AMP-415 Total ASSETS Current Assets Cash $ 14,000.00 Accounts recivable $ 6,800.00 Inventory $ 5,000.00 Supplies $ 750.00 Prepaid Expenses $ 2,000.00 Total Current assests $ 28,550.00 Property, Plant, and Equipment Buildings $ 180,000.00 Equipment $ 15,000.00 Less:Accumulated Depreciation (Buildings and Equipment) $ (65,000.00) Total Property, Plant, Equipment $ 130,000.00 Intangible Assets Patents $ 3,000.00 Total Assets $ 161,550.00 LIABILITIES and STOCKHOLDERS' EQUITY Current Liabilities Bonds Payable $ 25,000.00 Accounts Payable $ 11,000.00 Unearned Revenues $ 400.00 Total Current Liabilities $ 36,400.00 LONG TERM LIABILITIES Notes Payable $ 15,000.00 Total Liabilities $ 51,400.00 Stockholders' Equity Common Stock
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Unformatted text preview: $ 10,000.00 Retained Earnings $ 32,150.00 Dividends $ 5,000.00 Additional Paid-In Capital $ 5,000.00 Total Stockholders' Equity $ 52,150.00 Total Liabilities and Stockholders' Equity $ 103,550.00 ABC Corporation Income Statement As of December 31, 2010 Jessica Glass AMP-415 SALES REVENUE Sales $ 225,000.00 Cost of Good Sold $ 72,000.00 Gross Profit $ 153,000.00 Operating Expense Insurance Expense $ 6,000.00 Salaries Expense $ 45,000.00 Rent Expense $ 18,000.00 Depreciation Expense $ 10,500.00 Utilites Expense $ 4,800.00 Total Operating Expense $ 84,300.00 Income From Operations $ 68,700.00 Other Revenues and gains Intrest Revenue $ 500.00 Other Expenses and Losses Interest Expense $ 1,200.00 Net Income $ 68,000.00...
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