Balance Sheet Example

Balance Sheet Example - JOHN AND MARY FARMER (Farm Business...

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November, 1997 A – 2 JOHN AND MARY FARMER (Farm Business Only) BALANCE SHEET AS OF 12/31/X1 AND 12/31/X2 12/31/X2 12/31/X1 12/31/X2 12/31/X1 ASSETS LIABILITIES Cash 101,743 $ 113,421 $ Accounts Payable 6,578 $0 $ Inventories (Schedule 1) 180,581 149,557 Notes Due Within One Year (Schedule 5) 102,488 113,934 Accounts Receivable 14,300 11,835 Current Portion of Term Debt (Schedule 5) 23,458 21,328 Prepaid Expenses 3,500 3,500 Accrued Interest (Schedule 5) 14,107 18,113 Cash Investment in Growing Crops 21,000 21,000 Income Taxes Payable 6,894 4,134 Other Current Assets 890 890 Current Portion - Deferred Taxes 93,187 68,408 (Schedule 6) Other Accrued Expenses 0 0 Other Current Liabilities 0 0 Total Current Assets 322,014 300,203 Total Current Liabilities 246,712 225,917 Breeding Livestock (at market) 16,000 14,000 Non-Current Portion -- Notes Payable 25,786 36,646 (Schedule 2) (Schedule 5) Machinery and Equipment (at market) 199,500 199,500 Non-Current Portion -- Real Estate Debt 166,180 178,779 (Schedule 3) (Schedule 5) Investments in Capital Leases 0 0 Non-Current Portion -- Deferred Taxes 157,657 149,980 Investments in Other Entities 0 0 (Schedule 6) Investments in Cooperatives 27,650 27,650 Other Non-Current Liabilities 0 0 Real Estate (at market) (Schedule 4) 517,750 517,750 Buildings and Improvements (at market) 5,000 5,000 (Schedule 4) Other Assets 0 0 Total Non-Current Assets 765,900 763,900 Total Non-Current Liabilities 349,623 365,405 Total Liabilities 596,335 $ 591,322 $ Retained Capital 194,330 $ 188,674 $ Valuation Equity 297,249 284,107 OWNER EQUITY 491,579 472,781 Total Assets 1,087,914 $ 1,064,103 $ Total Liabilities and Owner Equity 1,087,914 $ 1,064,103 $
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November, 1997 A – 3 JOHN AND MARY FARMER (Farm Business Only) BALANCE SHEET SUPPLEMENTARY SCHEDULES AS OF 12/31/X1 AND 12/31/X2 SCHEDULE 1 — INVENTORIES 12/31/X2 12/31/X1 Commodity Units Number Price/Unit Total Number Price/Unit Total Corn for Sale Bushels 32,560.00 2.30 $ 74,888 $ 29,691.60 2.30 $ 68,291 $ Feed Supplement Tons 5.20 335.00 1,742 4.30 335.00 1,441 Mkt Cattle/Heifers/1000 lbs CWT 45.00 68.00 30,600 45.00 68.00 30,600 Mkt Cattle/Steers/1150 lbs CWT 57.00 70.00 45,885 35.00 70.53 28,389 Feeder Cattle/Steers/850 lbs CWT 40.00 78.00 26,520 30.00 78.00 19,890 Diesel Fuel Gallons 860.00 1.10 946 860.00 1.10 946 Total Inventories 180,581 $ 149,557 $ SCHEDULE 2 — BREEDING LIVESTOCK As of 12/31/X2 As of 12/31/X1 Base Value Total Total Book Mkt Value Total Base Value Total Total Book Mkt Value Total Type Number Per Head Cost/Base Acc Depr
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Balance Sheet Example - JOHN AND MARY FARMER (Farm Business...

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