ASSETS Current assets: Cash Petty cash ‘Temporary investments ‘Accounts receivable - net Inventory Supplies Prepaid insurance Total current assets Investments Property, plant & equipment Example Company Balance Sheet December 31, 2015 LIABILITIES Current liabilities Notes payable ‘Accounts payable ‘Wages payable Interest payable ‘Taxes payable Warranty liability Unearned revenues “Total current liabilities Long-term liabilities Notes payable Bonds payable Land 5,500 Total long-term liabilities Land improvements 6.500 Buildings 180,000 Equipment 20,000 Total labiities 481,000 Less: accum depreciation 155,000) Prop. plant & equip - net 337,000 Intangible assets STOCKHO! yurry Goodwill 105,000 Common stock 110,000 Trade names 200,000 —_—Retained earnings 220,000 Total intangible assets ‘Accum other comprehensive income —_-9,000 Less: Treasury stock 150,000) Other assets Total stockholders’ equity 289,000 Total assets ‘otal liabilties & stockholders’ equity $770,000 Company & Balance Sheet ‘As on December January 31, 2011 ASSETS LIABILITIES AND EQUITY Current Assets: Uatilties: cash $20,430 Accounts Payable $5,200 Accounts Receivable 5,900 utilities Payable 3,964 Office Supplies 4,320 Uneamed Revenue 41,000 Prepaid Rent 24,000 Interest Payable 150 Total Current Assets $54,650 Notes Payable Non-Current Assets: Total Liabilities $30,314 Equipment $80,000 Common Stock 100,000 Accumulated Depreciation 1,100 Retained Eamings 3,236 Net Non-Current Assets $78,900 Total Assets Total Liabities and Equity $133,950[Buy inventory on credit ‘Accounts payable (ality increases passe cash dares Ince dere Pessiiemocs —shderess spb) dveees | [el goods on eed (pat 1) Ivertory desea name (eau) decrees fcombremdbenerans ——Imame(euiens (Sel services on credit Accounts receivable increases Troame (equity) incresses Bie Investment of cash by owner + + Investment of property Cash payment for office Purchase of an asset on account + + Sale of office equipment on Make a payment en account Record revenue from a cash sale + + Record a cash payment for an Record a cash withdrawal by ES = the owner