BALANCE SHEET

Balance sheet

Balance sheet

Los Lobos

Balance Sheet

For the Year 2006-2007

Assets

2007

2006

Liabilities

2007

2006

Short term Assets

 

 

Short term Liabilities

 

 

Cash

$209,700

$32,000

Trade accounts payable

-126,300

-15,500

Accounts receivable

510,900

30,000

Income taxes payable

-21,000

-29,100

Allowance for doubtful accounts

-1,300

-1,100

Deferred income taxes

-5,300

-4,600

Inventory

31,000

47,000

8% callable bonds payable

-45,000

-20,000

Property, plant, & equipment

105,000

95,000

 

 

 

Accumulated depreciation

-16,500

-15,000

Stock Holder's Equity

 

 

Purchases

219500

 

Unamortized bond discount

4,500

5,000

 

 

 

Common stock

-61,600

-40,000

 

 

 

Additional paid-in capital

-9,100

-7,500

 

 

 

Retained earnings

-25,200

-64,600

 

 

 

 

 

 

Total Assets

$1,058,300

$187,900

Total Liabilities & Owner's Equity

-289,000

-176,300

Balance Sheet - this statement of assets and liabilities the company denominated in monetary units, it shows the assets (assets of an enterprise) and liabilities (sources of funding); figures are estimates and not the facts in the strict scientific sense.

•Liabilities show how much money the company received and from where.

•Assets reflect how the company used the money he received.

•Total assets must always equal total liabilities to creditors and shareholders.

In any balance sheet, it should indicate the business name and date to which the indicators.

Balance Sheet - this is one of the financial statements of the company, which must be supplemented by:

a) Income statement;

b) Report on sources and uses of funds (statement of cash resources);

c) notes to financial statements;

d) The conclusion of the external auditor.

•The balance sheet may look quite complicated, but in essence, it is simply a report on the enterprise.

•Most businesses prepare reports at regular intervals to reflect it in what they have and what they should have?

Balance Sheet - this is a report that the company is and what should be a specific date.

The property, owned by the company, called the Assets. Various sums of money that an enterprise should are called obligations. Buildings and production equipment - are assets. Assets include land, buildings, industrial equipment, vehicles, fixtures, and appliances and everything else owns what company and what can be measured in monetary terms.

Stocks of raw materials (finished products) - the property that belongs to the enterprise and can be evaluated in monetary terms and is classified as an asset. Now, to purchase the assets the company should get money from various sources, for example, it can take a loan from the finance company or bank. Then the company will be money.

The money that the company owes is called obligations.

Along with the bank and other loans, many companies have large amounts of money (for them necessary) from their shareholders. The company's shareholders, as a rule, subscribe to the shares or provide for the use of money for a period of the company.

These funds - equity, they are prepared ...