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    Balance Sheet1

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    yashpareek5
    The balance sheet shows Maple Leaf Rags Inc had total assets of $501,100.77 as of September 30, 2012, including current assets of $469,885.77 such as $147,343.93 in various bank accounts and $212,414 in CD inventory. Fixed assets including computers, furniture, and an automobile totaled $31,215. Total liabilities were $68,488.75, including a $12,000 bank loan and $1,575 in accounts payable. Equity included $210,000 in common stock and $432,612.02 in retained and current earnings.

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    Balance Sheet1

    Uploaded by

    yashpareek5
    13 views2 pages
    The balance sheet shows Maple Leaf Rags Inc had total assets of $501,100.77 as of September 30, 2012, including current assets of $469,885.77 such as $147,343.93 in various bank accounts and $212,414 in CD inventory. Fixed assets including computers, furniture, and an automobile totaled $31,215. Total liabilities were $68,488.75, including a $12,000 bank loan and $1,575 in accounts payable. Equity included $210,000 in common stock and $432,612.02 in retained and current earnings.

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    The balance sheet shows Maple Leaf Rags Inc had total assets of $501,100.77 as of September 30, 2012, including current assets of $469,885.77 such as $147,343.93 in various bank accounts and $212,414 in CD inventory. Fixed assets including computers, furniture, and an automobile totaled $31,215. Total liabilities were $68,488.75, including a $12,000 bank loan and $1,575 in accounts payable. Equity included $210,000 in common stock and $432,612.02 in retained and current earnings.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    13 views2 pages

    Balance Sheet1

    Uploaded by

    yashpareek5
    The balance sheet shows Maple Leaf Rags Inc had total assets of $501,100.77 as of September 30, 2012, including current assets of $469,885.77 such as $147,343.93 in various bank accounts and $212,414 in CD inventory. Fixed assets including computers, furniture, and an automobile totaled $31,215. Total liabilities were $68,488.75, including a $12,000 bank loan and $1,575 in accounts payable. Equity included $210,000 in common stock and $432,612.02 in retained and current earnings.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
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    of 2

    Maple Leaf Rags Inc.

    Balance Sheet As at 09/30/12

    ASSET

    CURRENT ASSETS
    Bank: Savings Account 105,975.00
    Bank: Chequing Account 28,051.75
    Bank: Visa 4,280.79
    Bank: MasterCard 5,786.47
    Bank: USD 3,249.92
    Net: Bank 147,343.93
    Accounts Receivable 67,208.34
    Purchase Prepayments 0.00
    Office Supplies 320.00
    CD Inventory 212,414.00
    Book Inventory 40,240.00
    Prepaid Expenses 2,359.50
    TOTAL CURRENT ASSETS 469,885.77

    FIXED ASSETS & EQUIPMENT


    Computers 8,200.00
    Accum Deprec: Computers -3,230.00
    Net: Computers 4,970.00
    Furniture & Equipment 9,100.00
    Accum Deprec: Furn & Equip -2,280.00
    Net: Furn & Equip 6,820.00
    Automobile 27,875.00
    Accum Deprec: Automobile -8,450.00
    Net: Automobile 19,425.00
    TOTAL FIXED ASSETS & EQUIPMENT 31,215.00

    TOTAL ASSET 501,100.77

    LIABILITY

    LIABILITIES
    Bank Loan 12,000.00
    Prepaid Sales and Deposits 0.00
    Accounts Payable 1,575.00
    Amex Payable 0.00
    Visa Payable 115.50
    PST Payable 0.00
    GST Charged on Sales 3,169.50
    HST Charged on Sales 1,772.30
    GST Paid on Purchases -1,358.95
    HST Paid on Purchases -8,784.60
    GST Refund (Owing) -5,201.75
    Long Term Loan 60,000.00
    TOTAL LIABILITIES 68,488.75

    TOTAL LIABILITY 68,488.75

    EQUITY

    EQUITY
    Common Stock 210,000.00
    Retained Earnings 22,014.00
    Current Earnings 200,598.02
    TOTAL EQUITY 432,612.02

    TOTAL EQUITY 432,612.02

    LIABILITIES AND EQUITY 501,100.77

    Generated On: 11/22/10

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