Chapter 1 Balance Sheet

Chapter 1 Balance Sheet - $100 Notes Payable $ 80 Total...

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Balance Sheet As of 12/31/2007 ASSETS Current Assets Cash $100 Accounts Receivable $300 Inventory $120 Supplies $ 80 Notes Receivable $ 10 Total current $610 Non-current Assets PPE $200 A/D ($30) Land $400 Notes Receivable $ 70 Goodwill $155 Total non-currrent $795 TOTAL ASSETS $1405 LIABILITIES AND OWNER’S EQUITY Current Liabilities Accounts Payable $125 Wages Payable
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Unformatted text preview: $100 Notes Payable $ 80 Total Current $305 Non current liabilities Mortgage Payable $450 Notes Payable $ 90 Total non-current $540 Total Liabilities $845 Owners Equity Contributed Capial (c/s) $350 Retained Earnings $210 Total Equity $560 TOTAL LIABILITIES AND EQUITY $1405 Balance Sheet Example...
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