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Balance Sheet

This balance sheet shows the assets, liabilities, and owner's equity for Van and sons academic coaching as of August 1st. It lists current assets of $24,500 including $20,000 in cash, $3,200 in accounts receivable, and $1,300 in stock. Total assets are $61,500 including non-current assets of $37,000 such as furniture, buildings, and intangibles. Total liabilities are $28,000 consisting of $8,000 in current liabilities like accounts payable and an overdraft, and $20,000 in a non-current bank loan. Owner's equity totals $32,000 from initial capital of $25,000 and retained

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Alan Van
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0% found this document useful (0 votes)
23 views2 pages

Balance Sheet

This balance sheet shows the assets, liabilities, and owner's equity for Van and sons academic coaching as of August 1st. It lists current assets of $24,500 including $20,000 in cash, $3,200 in accounts receivable, and $1,300 in stock. Total assets are $61,500 including non-current assets of $37,000 such as furniture, buildings, and intangibles. Total liabilities are $28,000 consisting of $8,000 in current liabilities like accounts payable and an overdraft, and $20,000 in a non-current bank loan. Owner's equity totals $32,000 from initial capital of $25,000 and retained

Uploaded by

Alan Van
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Assets

Current Assets
Cash
Accounts receivable
Stock

Balance Sheet for Van and sons academic coaching as of 1 August


Liabilities
$
Current Liabilities
$
20,000
Accounts Payable
3000
3200
Bank Overdraft
5000
1300

Total Current Asset

24500

Non- Curren
ent Assets
Furniture
Building
Intangibles
Total NC Assets

2000
30000
5000
37000

Total Assets

61,500

Total Current Liabilities

8000

Non-Current Liabilities
Bank Loan

20000

Total NC Liabilities

20000

Owners Equity
Owners Capital
Retained PrProfits

25000
8500

Total Ownerers Equity

32000

Total Liabilities and

OE

61500

aching as of 1 August
$

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