This balance sheet summarizes the assets and liabilities of Twin Pines Farm as of January 2nd. It shows current assets of $347,750 including $134,000 in feeder livestock and crops. Non-current assets total $769,000, including $240,000 in machinery and equipment. Total assets are $1,097,750. Current liabilities are $124,570, including a $87,300 operating loan. Non-current liabilities are $172,000. Total owner equity is $801,180, with $51,180 in retained earnings and $769,000 in contributed capital.
This balance sheet summarizes the assets and liabilities of Twin Pines Farm as of January 2nd. It shows current assets of $347,750 including $134,000 in feeder livestock and crops. Non-current assets total $769,000, including $240,000 in machinery and equipment. Total assets are $1,097,750. Current liabilities are $124,570, including a $87,300 operating loan. Non-current liabilities are $172,000. Total owner equity is $801,180, with $51,180 in retained earnings and $769,000 in contributed capital.
This balance sheet summarizes the assets and liabilities of Twin Pines Farm as of January 2nd. It shows current assets of $347,750 including $134,000 in feeder livestock and crops. Non-current assets total $769,000, including $240,000 in machinery and equipment. Total assets are $1,097,750. Current liabilities are $124,570, including a $87,300 operating loan. Non-current liabilities are $172,000. Total owner equity is $801,180, with $51,180 in retained earnings and $769,000 in contributed capital.