The Balance Sheet
1) Accounts receivable are current assets.
2) Yes, Accounts receivable and cash on hand total $35,000 while Taxes and accounts payable total only $27,500.
3) Land ownership represents 21% of the company’s fixed assets ($38,000)
As mentioned, a company’s origin, priorities and degree of success can be clearly gleaned by a review of It’s Balance Sheet. Not only can it reveal the past it can also highlight a prescription for suggested changes.
Balance Sheet Ending December 31st 2014.
| Current Assets |
|Cash on Hand|
Total Current Assets
| Fixed Assets|
|Garage and Equipment|
|Other (Intangible Assets)|
Total Fixed Assets
Liabilities & Shareholder Equities
| Shareholder Equity|
Total Shareholder Equity
Total Liabilities $ shareholder Equity