Answer – Balance Sheet

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


Accounts Receivable




Total Current Assets


Fixed Assets

Garage and Equipment


Less Depreciation


Land Owned


Other (Intangible Assets)



Total Fixed Assets


Total Assets



Liabilities & Shareholder Equities


Accounts Payable


Taxes Payable


Long-Term Loan



Total Liabilities


Shareholder Equity

Common Stock


Retained Earnings


Total Shareholder Equity


Total Liabilities $ shareholder Equity



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Tim Friesner

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