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  • Opening Day Balance Sheet

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    Jessica Lopez
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    SoftWorks has total assets of $117,000 consisting of $77,000 in current assets including $50,000 of cash and $40,000 in fixed assets such as machinery and equipment. Its total liabilities are $15,000 including $10,000 in accounts payable and $5,000 in taxes payable, leaving owners' equity or net worth at $102,000.

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    Opening-Day-Balance-Sheet

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    SoftWorks has total assets of $117,000 consisting of $77,000 in current assets including $50,000 of cash and $40,000 in fixed assets such as machinery and equipment. Its total liabilities are $15,000 including $10,000 in accounts payable and $5,000 in taxes payable, leaving owners' equity or net worth at $102,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    6 views2 pages

    Opening Day Balance Sheet

    Uploaded by

    Jessica Lopez
    SoftWorks has total assets of $117,000 consisting of $77,000 in current assets including $50,000 of cash and $40,000 in fixed assets such as machinery and equipment. Its total liabilities are $15,000 including $10,000 in accounts payable and $5,000 in taxes payable, leaving owners' equity or net worth at $102,000.

    Copyright:

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

    Opening Day Balance Sheet


    SoftWorks

    Assets

    Current Assets
    Cash in Bank $ 50,000
    Inventory 20,000
    Prepaid Expenses 5,000
    Other 2,000
    Total Current Assets $ 77,000

    Fixed Assets
    Machinery & Equipment $ 30,000
    Furniture & Fixtures 10,000
    Leasehold Improvements -
    Real Estate / Buildings -
    Other -
    Total Fixed Assets $ 40,000

    Other Assets
    Specify $ -
    Specify -
    Total Other Assets $ -

    Total Assets $ 117,000

    Liabilities & Net Worth

    Current Liabilities
    Accounts Payable $ 10,000
    Taxes Payable 5,000
    Notes Payable (due within 12 months) -
    Current Portion Long-term Debt -
    Other current liabilities (specify) -
    Total Current Liabilities $ 15,000

    Long-term
    Bank LoansLiabilities
    Payable (greater than 12
    months) $ -
    Less: Short-term Portion -
    Notes Payable to Stockholders -
    Other long-term debt (specify) -
    Total Long-term Liabilities $ -

    Total Liabilities $ 15,000

    Owners' Equity (Net Worth) $ 102,000

    Total Liabilities & Net Worth $ 117,000

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