The writer is very fast, professional and responded to the review request fast also. Thank you.
Book/movie review
22/08/2022
The Balance Sheet provides a snapshot of the financial condition of a company at the end of an accounting period. It shows the assets, liabilities, and owner’s equity in the business.
|
A |
cash |
|
C |
depreciation |
|
C |
equipment |
|
A |
inventory |
|
L |
loan |
|
E |
paid in capital |
|
C |
prepaid insurance |
|
E |
retained earnings |
|
L |
taxes owed |
|
A |
utility deposit |
Create a balance sheet showing the financial position of the Sample Cafe as of December 31st Use the data above. Remember, Assets must equal Total Liabilities + Equity.
|
SampleCafeBalanceSheet As of December 31, 20xx |
||||
|
Assets |
|
|
Liabilities |
|
|
Cash |
$15,000 |
|
Loans |
$20,000 |
|
Deposits |
$2,500 |
|
Total Liabilities |
$20,000 |
|
Furniture & Equip. |
$12,000 |
|
|
|
|
Depreciation |
$2,500 |
|
Equity |
|
|
Inventory |
$3,000 |
|
Owner’s Equity |
$15,000 |
|
|
|
|
Total Equity |
$15,000 |
|
|
|
|
|
|
|
Total Assets |
$35,000 |
|
Total Liab. & Equity |
$35,000 |
|
Sample Café Income StatementSummaryMonth Ended January31,20xx |
||
|
Revenue |
$30,000 |
|
|
Cost of Goods Sold |
$3,500 |
$1,000 from inventory |
|
Total Expenses |
$27,000 |
Includes equipment depreciation of $200. |
|
Net Income |
($500) |
|
|
SampleCafeBalanceSheet As of December 31, 20xx |
||||
|
Assets |
|
|
Liabilities |
|
|
Cash |
$30,000 |
|
Loans |
$20,000 |
|
Deposits |
$2,500 |
|
Total Liabilities |
$20,000 |
|
Furniture & Equip. |
$0 |
|
|
|
|
Depreciation |
$1,000 |
|
Equity |
|
|
Inventory |
$1,000 |
|
Owner’s Equity |
$14,500 |
|
|
|
|
Total Equity |
$14,500 |
|
|
|
|
|
|
|
Total Assets |
$34,500 |
|
Total Liab. & Equity |
$34,500 |
Because furniture and equipment are $12,000 I assume half of that is equipment. With the information above saying that $200 had depreciated $6,000-$200 would be a $5800 value for the equipment.
Inventory was $3,000 but in January it was calculated that $3,500 was spent. That means $500 dollars of inventory was not expected giving the loss of $500.
The writer is very fast, professional and responded to the review request fast also. Thank you.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more