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Balance Sheet

Balance Sheet. Assets (LHS) What we own Debt and Equity (RHS) What we owe Point in Time Accural Accounting Matching of Revenues with Expenses. Organization of Balance Sheets.

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Balance Sheet

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  1. Balance Sheet • Assets (LHS) What we own • Debt and Equity (RHS) What we owe • Point in Time • Accural Accounting • Matching of Revenues with Expenses

  2. Organization of Balance Sheets • Assets (LHS) and Claims on assets (RHS) • From Top to Bottom: • Liquid to Less Liquid • Short Term to Long Term • Operations and Support of Operations

  3. Balance Sheets: Assets 1998 1997 Cash 7,282 9,000 Short-term inv. 0 48,600 AR 632,160 351,200 Inventories 1,287,360715,200 Total CA 1,926,802 1,124,000 Gross FA 1,202,950 491,000 Less: Depr. 263,160146,200 Net FA 939,790344,800 Total assets 2,866,592 1,468,800

  4. Liabilities and Equity 1998 1997 Accts payable 524,160 145,600 Notes payable 720,000 200,000 Accruals 489,600 136,000 Total CL 1,733,760 481,600 Long-term debt 1,000,000 323,432 Common stock 460,000 460,000 Retained earnings (327,168) 203,768 Total equity 132,832 663,768 Total L&E 2,866,592 1,468,800

  5. Got questions?Get answers!! • Voicemail: • Email: (404) 651-2691 chodges@gsu.edu • Electronic Bulletin Board: http://www.voy.com/4032

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