Balance Sheet

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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.

 

 

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