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    Xyz Company: Balance Sheet 12/31/2019

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    Mary Aileen Caliguiran
    The balance sheet shows Xyz Company had total assets of $776,000 as of December 31, 2019, including current assets of $175,000 such as $120,000 in inventory and long-term assets of $601,000 including $300,000 in buildings and improvements. Total liabilities were $462,000, with current liabilities of $140,000 including $60,000 in accounts payable and long-term liabilities of $322,000 including a $322,000 loan. Total owner's equity was $314,000 consisting of $64,000 in paid in capital and $250,000 in retained earnings.

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    Xyz Company: Balance Sheet 12/31/2019

    Uploaded by

    Mary Aileen Caliguiran
    10 views1 page
    The balance sheet shows Xyz Company had total assets of $776,000 as of December 31, 2019, including current assets of $175,000 such as $120,000 in inventory and long-term assets of $601,000 including $300,000 in buildings and improvements. Total liabilities were $462,000, with current liabilities of $140,000 including $60,000 in accounts payable and long-term liabilities of $322,000 including a $322,000 loan. Total owner's equity was $314,000 consisting of $64,000 in paid in capital and $250,000 in retained earnings.

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    The balance sheet shows Xyz Company had total assets of $776,000 as of December 31, 2019, including current assets of $175,000 such as $120,000 in inventory and long-term assets of $601,000 including $300,000 in buildings and improvements. Total liabilities were $462,000, with current liabilities of $140,000 including $60,000 in accounts payable and long-term liabilities of $322,000 including a $322,000 loan. Total owner's equity was $314,000 consisting of $64,000 in paid in capital and $250,000 in retained earnings.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    10 views1 page

    Xyz Company: Balance Sheet 12/31/2019

    Uploaded by

    Mary Aileen Caliguiran
    The balance sheet shows Xyz Company had total assets of $776,000 as of December 31, 2019, including current assets of $175,000 such as $120,000 in inventory and long-term assets of $601,000 including $300,000 in buildings and improvements. Total liabilities were $462,000, with current liabilities of $140,000 including $60,000 in accounts payable and long-term liabilities of $322,000 including a $322,000 loan. Total owner's equity was $314,000 consisting of $64,000 in paid in capital and $250,000 in retained earnings.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Xyz Company

    Balance Sheet
    12/31/2019
    ASSETS
    Current Assets
    Cash $12000
    Accounts Receivable 35000
    Inventory 120000
    Prepaid Rent 8000
    Total Current Assets $175000
    Long- Term Assets
    Land $126000
    Buildings & Improvements 300000
    Furniture & Fixtures 50000
    General Equipment 125000
    Total Fixed Assets $601000

    TOTAL ASSETS $776000

    LIABILITIES
    Current Liabilities
    Accounts Payable $60000
    Taxes Payable 25000
    Salaries Payable 30000
    Interest Payable 25000
    Total Current Liabilities $140000
    Long-term Liabilities
    Loan 1 $322000
    Total long-term Liabilities $322000
    TOTAL LIABILITIES $462000

    OWNER’S EQUITY
    Paid In Capital $64000
    Retained Earnings 250000
    TOTAL OWNER’S EQUITY $314000
    _______
    TOTAL LIABILITIES & OWNER’S $776000
    EQUITY

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