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SBA Financial Templates - Jim Bob's Pet Rocks Inc Balance...

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Page 1 Jim Bob's Pet Rocks, Inc. Balance Sheet 6/17/2003 Assets Current Assets: Cash $30,000 Accounts Receivable $7,000 Less: Reserve for Bad Debts 0 7,000 Merchandise Inventory 4,000 Prepaid Expenses 200 Notes Receivable 1,000 Total Current Assets $42,200 Fixed Assets: Vehicles 120,000 Less: Accumulated Depreciation 30,000 90,000 Furniture and Fixtures 100,000 Less: Accumulated Depreciation 20,000 80,000 Equipment 100,000 Less: Accumulated Depreciation 30,000 70,000 Buildings 300,000 Less: Accumulated Depreciation 240,000 60,000 Land 500,000 Total Fixed Assets 800,000 Other Assets: Goodwill 400,000 Total Other Assets 400,000 Total Assets $1,242,200 Liabilities and Capital Current Liabilities: Accounts Payable $20,000 Sales Taxes Payable 60,000 Payroll Taxes Payable 40,000 Accrued Wages Payable 30,000 Unearned Revenues 0 Short-Term Notes Payable 10,000 Short-Term Bank Loan Payable 20,000 Total Current Liabilities $180,000 Long-Term Liabilities: Long-Term Notes Payable 300,000 Mortgage Payable 500,000 Total Long-Term Liabilities 800,000
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Page 2 Jim Bob's Pet Rocks, Inc. Balance Sheet 6/17/2003 Total Liabilities 980,000 Capital: Owner's Equity 250,000 Net Profit 12,200 Total Capital 262,200 Total Liabilities and Capital $1,242,200
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