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ABM G12 - ABC Company Balance Sheet - Dec. 31,2014
ABM G12 - ABC Company Balance Sheet - Dec. 31,2014
BALANCE SHEET
YEAR ENDING, DECEMBER 31, 2014
ASSETS
Cash 23,000
Gross Account Receivable 40,000
Net Account Receivable 38,000
Inventories 54,000
Gross fixed assets 486,000
Net fixed assets 435,000
Accumulated Depreciation 51,000
Allowance for doubtful acts (2,000)
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Total assets 550,000
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Liabilities
Accounts payable 39,000
Short term bank loan (Notes Payable) 18,000
Accrued expense 8,000
Current Position of LT debt 6,000
Long-term debt 210,000
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Total liabilities 281,000
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Equity
Common Stock 45,000
Additional pain-in capital 86,000
Retained earnings 138,000
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Total Equity 269,000
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Total liabilities and equity 550,000
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