ClassBalSheet

ClassBalSheet - cycle. These assets will not be realizable,...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Fitness Sporting Goods, Inc Balance Sheet December 31, 2002 A SSETS Current Assets Cash Marketable Securities Accounts Receivable Merchandise Inventory Prepaid Insurance Store Supplies Total Current Assets $  5,000 11,000 23,000 73,500 4,800 700 $118,000 Investments Land held for future  office site Property, plant and equipment Land Building   Less:  Accum. Depr.   Less:  Accum. Depr. Intangible assets Franchise agreements $150,000 60,000 $ 42,000 12,600 100,000 90,000 29,400 150,000 219,400 55,000 Total Assets $542,400 L IABILITIES Current Liabilities Accounts payable Salaries and wages payable Income taxes payable Interest payable Bank loan payable Total current liabilities $15,700 9,500 7,200 2,500 25,000 $59,900 These are  assets sold,  realizable, or  consumed in  one year or  operating 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: cycle. These assets will not be realizable, sold or consumed within one year or These are liabilities that will be satisfied within one year or operating cycle. These are liabilities that will not be satisfied within one year or operating cycle. Long-term debt Notes payable, due December 31, 2004 120,000 Total liabilities $179,900 S TOCKHOLDERS E QUITY Contributed Capital Capital stock, $10 par, 5,000 shares issued and outstanding Paid-in capital in excess of par value Total Contributed Capital Retained Earnings Total Stockholders Equity $ 50,000 25,000 $ 75,000 187,500 362,500 Total Liabilities and Stockholders Equity $542,400 These are shareholders claims on assets....
View Full Document

Page1 / 2

ClassBalSheet - cycle. These assets will not be realizable,...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online