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  • Module 5 - Balance Sheet

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    Michael Batalla
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    This custom balance sheet for MRD Furniture shows their financial position at the end of fiscal year 2022. It lists their assets of $2,707,330.06 in current assets like cash and inventory, and fixed assets of -$152,210.48 like machinery. For liabilities and equity, it shows $1,282,492.95 in current liabilities like accounts payable and $1,275,026.49 in total current liabilities. Equity includes $825,830.78 in opening balance and $603,840.12 in net income, for total equity of $1,280,093.09. The total liabilities and equity equal the total assets of $2,555

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    Module 5- Balance sheet

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    This custom balance sheet for MRD Furniture shows their financial position at the end of fiscal year 2022. It lists their assets of $2,707,330.06 in current assets like cash and inventory, and fixed assets of -$152,210.48 like machinery. For liabilities and equity, it shows $1,282,492.95 in current liabilities like accounts payable and $1,275,026.49 in total current liabilities. Equity includes $825,830.78 in opening balance and $603,840.12 in net income, for total equity of $1,280,093.09. The total liabilities and equity equal the total assets of $2,555

    Copyright:

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

    Module 5 - Balance Sheet

    Uploaded by

    Michael Batalla
    This custom balance sheet for MRD Furniture shows their financial position at the end of fiscal year 2022. It lists their assets of $2,707,330.06 in current assets like cash and inventory, and fixed assets of -$152,210.48 like machinery. For liabilities and equity, it shows $1,282,492.95 in current liabilities like accounts payable and $1,275,026.49 in total current liabilities. Equity includes $825,830.78 in opening balance and $603,840.12 in net income, for total equity of $1,280,093.09. The total liabilities and equity equal the total assets of $2,555

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    MRD Furniture (BATALLA)

    Custom Balance Sheet


    End of FY 2022
    Options: Activity Only

    Financial Row Class Department Amount


    ASSETS
    Current Assets
    Bank
    1000 - Checking $1,369,778.97
    1002 - Savings $325,000.00
    1004 - Payroll $24,388.60
    1006 - Petty Cash $500.00
    1008 - Cash on Hand $47,510.32
    Total Bank $1,767,177.89
    Accounts Receivable
    1100 - Accounts Receivable $201,155.03
    Total Accounts Receivable $201,155.03
    Other Current Asset
    1090 - Undeposited Funds $48,599.19
    1200 - Inventory Asset $710,397.95
    1300 - Prepaid Expenses ($20,000.00)
    Total Other Current Asset $738,997.14
    Total Current Assets $2,707,330.06
    Fixed Assets
    1410 - Furniture & Fixtures $611.98
    1420 - Machinery & Equipment
    1420 - Machinery & Equipment $13,934.00
    Total - 1420 - Machinery & Equipment $13,934.00
    1511 - Acc. Dep - IT Equipment ($259.26)
    1520 - Acc. Dep-Machinery & Equipment ($851.40)
    1560 - Acc. Dep-Building ($165,645.80)
    Total Fixed Assets ($152,210.48)
    Total ASSETS $2,555,119.58
    Liabilities & Equity
    Current Liabilities
    Accounts Payable
    2000 - Accounts Payable $1,282,492.95
    Total Accounts Payable $1,282,492.95
    Credit Card
    1050 - First Community Bank VISA $816.68
    Total Credit Card $816.68
    Other Current Liability
    2015 - Inventory Received Not Billed ($30,563.25)
    2040 - Payroll Liabilities $14,234.24
    2050 - Sales Taxes Payable $1,804.59
    2080 - Retirement Contribution Payable $6,241.28
    Total Other Current Liability ($8,283.14)
    Total Current Liabilities $1,275,026.49
    Equity
    3200 - Opening Balance $825,830.78
    Retained Earnings ($149,577.81)
    Net Income $603,840.12
    Total Equity $1,280,093.09
    Total Liabilities & Equity $2,555,119.58

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