Balance Sheet - Balance Sheet 2010 Fall AFM131 Section 3...

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Balance Sheet 2010 Fall - AFM131 - Section 3 - S3G-01 World 2 - Giovanni Moto - Period 2009 ASSETS Current Assets Cash $3,897,56 4 Raw Materials Inventory $0 Finished Goods Inventory $0 Total Current Assets $3,897,56 4 Non Current Assets Plant $4,000,00 0 Less: Accumulated Depreciation $1,570,00 0 Total Non Current Assets $2,430,00 0 TOTAL ASSETS $6,327,56 4 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Short Term Debt (Overdraft) $0 Company Tax To Pay $102,573 Total Current Liabilities $102,573 Non Current Liabilities Long Term Debt $1,000,00 0 Total Non Current Liabilities $1,000,00 0 TOTAL LIABILITIES $1,102,57 3 Equity Number of Shares Outstanding: 1,000,000 Share Capital $1,000,00 0 Retained Earnings $4,224,99 0 TOTAL EQUITY $5,224,99 0
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LIABILITIES AND STOCKHOLDERS' EQUITY $6,327,56 4 HINTS AND TIPS 1. If your total equity value is negative, then that means that your firm is insolvent, which means that you owe more money to others than you have even if you sold all of your assets. If your firm is insolvent, then you will not be able to raise any more Long Term Debt, and your share price will fall to $0.01.
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