Balance Sheet
Nybrostrand Company
Statement of retained earning s
December 31, 2012
Beginning retained earnings $-
Plus net income (revenue – expenses)
(586,000-$467,350)= $118,650
Less dividends $15,000
Ending retained earnings 103,650
Nybrostrand Company
Balance sheet
December 31, 2012
| Assets ($) | Liabilities ($) |
| Current assets
Cash 30,000 Account receivable 36,500 Inventory 76,500 Depreciation expenses 24,350 Total current assets 167,350 Fixed assets Equipment (net of depreciation) 415,000 Land 400,000 Total fixed assets 815,000 Total assets 982,350 |
Current liability
Accounts payable 78,000 Dividends payable 15,000 Insurance 1,400 Marketing 4,500 Property taxes 16,900 Rent 28000 Salaries 78,500 Utilities 6,700 Total current liability 279,000 Long term liabilities Long term debts 127,000 Total long term liabilities 127,000 Shareholders’ equity Common stock 160,000 Paid-in capital 50,000 Retained earnings 103,650 Total shareholders’ equity 263,650 Total liability and equity 669,650 |
References
Orr, Jayson. (2000). “Making Your Numbers Talk: The Income Statement.” CMA Management.
Pinson, Linda. (2004). Keeping the Books: Basic Record Keeping and Accounting for Successful Small Business. Business & Economics.
Taylor, Peter. (2003). Book-Keeping & Accounting for Small Business. Business & Economics.
