CHARLES COMPANY

Balance Sheet
As of December 31 (Values are in $
Assets
Current assets:
Cash
Inventory

Total current assets

Non current assets:

Property, plant, equipment
at cost

Total non current assets:

Total assets:
 CHARLES COMPANY
Balance Sheet
of December 31 (Values are in $ terms)
s Liabilities and Owner's Equity
Current Liabilities:
12000 Bank Loan payable 40000
95000

107000 Total current liabilities 40000

Owner's equity:

13000 80000

13000 Total Owner's equity: 80000

120000 Total liabilities and owner' 120000

 MIRCROTECH COMPANY
Year 1 Year 2 Year 3
Current assets 113624 90442 85124
Non current assets 410976 198014 162011
Total assets 524600 288456 247135

Current Liabilities 56142 40220 15583

Non current Liabilities 240518 78585 60100
Paid in capital 214155 173295 170000
Retained earnings 13785 -3644 1452
Total liabilities and owner's equity 524600 288456 247135

Total assets = Current assets + Non current assets

Total liabilities and owner's equity = Current Liab
Total assets = Total liabilities and owner's quity
 Year 4
69090
151021
220111

17539
30222
170000
2350
220111

s + Non current assets

s equity = Current Liabilities + Non current Liabilities + Paid in capital + Retained earnings
es and owner's quity
 ASTROTECH COMPANY
Year 1 Year 2
Sales 12011 11968
Cost of goods 3011 2992
Gross margin 9000 8976
Other expenses 6201 6429
Profit before tax 2799 2547
Tax expense 1120 1019
Net income 1679 1528

Cost percentage 0.25068687 0.25

Gross margin perc 0.74931313 0.75
Other expenses 0.516276746 0.537182487
Profit before tax 0.233036383 0.212817513
Tax expense perca 0.093247856 0.085143717
Net income 0.139788527 0.127673797
H COMPANY
Year 3 Year 4
11545 10000
2886 2502.217387
8659 7497.782613
6296 5329.345126
2363 2168.437487
945 867.4839633
1418 1300.953524

0.249978346 0.250221739
0.750021654 0.749778261
0.545344305 0.532934513
0.20467735 0.216843749
0.081853616 0.086748396
0.122823733 0.130095352
 1 Owners have invested 20,000 into the company and the cash assets of the c
2 Using cash of 5000 and taking a loan of 2000, an equipment(asset) of 7000
3 Inventory is bought worth 1000 using cash of 1000
4 Salary of 4500 is paid using cash
5 There is a revenue of 10000 to be earned out of which 5000 is given and 50
6 A debt of 1500 is cleared using cash
7 They received 1000 which is now as cash
8 Rent of 750 is paid using cash
9 Utilities worth 500 are done using cash
10 Expense from the company to others is done for 200 but not paid yet as cas
11 Inventory of 200 is consumed.
pany and the cash assets of the company goes up by the same
0, an equipment(asset) of 7000 is bought

ut of which 5000 is given and 5000 is to be given to the company in the future

e for 200 but not paid yet as cash hasn't changed

 BON VOYAGE TRA
Cash Accounts Recievable Supplies Inventory

25,000
-500

-500 500
-750
-3,000
2,000 8,000
-5,000
-100

BON VOYAGE TRAVELS

BALANCE SHEET AS OF JUNE 30
ASSETS
Current assets:
Cash $17,250
Accounts Recievable $8,000
SUPPLIES INVENTORY $400

Total Current assets $25,650

Non current assets:

Equipment $8,000

Total non current assets $8,000

Total assets $33,650

BON VOYAGE TRAVELS

INCOME STATEMENT JUNE 1-30
Commissions
Expenses:
Rent 500
Advertising 750
Salaries 3000
Supplies 100
Miscellaneous expenses 1000
Net Expenses 5350
Net Income

BON VOYAGE TRAVEL

CASH RECEIPTS AND DISBURSEMENTS JUNE 1-30

Receipts
owner's investment 25000
collection of commissions $ 2000
total receipts 27000

Disbursements
paid rent 500
bought supplies 500
bought advertising 750
paid salaries 3000
paid vendors 5000
total disbursements= 9750.00
Increase in cash ₹17,250.00
 BON VOYAGE TRAVEL
Equipment = Account PayabOwners' Equity

25,000
-500
8,000 8,000

-750
-3,000
10,000
-5,000
-100
1,000 -1,000

BON VOYAGE TRAVELS

LANCE SHEET AS OF JUNE 30
LIABILITIES AND OWNER'S EQUITY
Current liabilities
Account payables $4,000

Total current liabilities $4,000

Non current liabilities $0

Owner's equity $29,650

Total Owners' equity $29,650

Total liabilities and

Owner's equity $33,650

GE TRAVELS
MENT JUNE 1-30
10,000
4,650
Description of Transaction

INVESTMENT
RENT
EQUIPMENT BROUGHT ON CREDIT
OFFICE SUPPLIES
ADVERTISING
SALARIES
COMMISSIONS

OFFICE SUPPLIES
EXPENSES
 Assets = Liabilities
1 95000 40000
2 65000 25000
3 70000 25000 40000
4 33000 55000 88000 15000
5 35000 60000 25000
+ Owners' Equity
55000
40000
55000
73000 Current Ratio = 2.2:1 Current Liability 15000
70000 Current Liability 25000
 J.L. GREGORY COMPANY
BALANCE SHEET , JUNE 30
ASSETS Liabilities and owner's equity
CURRENT ASSETS CURRENT LIABILITIES
cash 89,000 Accounts payable
marketable securities 379,000 Accrued expenses
Accounts receivable 505,000 Taxes payable
inventories 513,000 total current liabilities
TOTAL CURRENT ASSETS 1,486,000 NON CURRENT LIABILITIES
NON CURRENT ASSETS Notes payable
land 230,000 bonds payable
Buildings 1,120,000 Total non current liabilities
Accumulated depriciation -538,000 Total liabilities
equipment 761,000 Owner's equity
accumulated depriciation $ -386,000 capital stock
investments 320,000 retained earnings
TOTAL NON CURRENT ASSET 1,507,000 Total liabilities and
TOTAL ASSETS 2,993,000 Owner's equity
s and owner's equity

241,000
107,000
125,000
473,000

200,000
700,000
900,000
1,373,000

1,000,000
620,000
2,993,000
 1 Cash 100000
Capital Stock 100,000
Owners' Equity 100000
2 Bonds Payable -25000
Capital Stock 25000
3 Accumilated depreciation on plant and assets 8500
4 Inventory 15900
Assets 15900
Cash -15900
5 Inventory 9400
Assets 9400
Accounts Payable 9400
6 Inventory -4500
Assets -4500
Accounts Recievable 7200
Retained Earnings 2700
7 Cash 3500
Accounts Recievable -3500
8 Divedends Payable 3000
Retained Earnings 2700
9 Divedends Payable -3000
10 No change
 CARSON LEGATT PARTNERSHIP
BALANCE SHEET AS OF JUNE 1
ASSETS CAPITAL ACCOUNTS
cash 50,000 Carson
inventory 50,000 legat
total assets 100,000 total capital

CARSON LEGATT PARTNERSHIP

BALANCE SHEET AS OF JUNE 30
ASSETS LIABILITIES
Cash 22,100 Bank loan
Inventory 58,500 Capital Carson
Land 25,000 Capital Legat
Building 50,000
Total assets 155,600 Total liabilities and owners' equity

CARSON LEGATT PARTNERSHIP

ACCOUNTS , JUNE30
CARSON
Capital on June1 50,000
Additions 7,750
Withdrawls 3,700
Capital on June 30 51,550

LEGATT
Capital on June1 50,000
Additions 7,750
Withdrawls 3,700
Capital on June30 54,050
CCOUNTS
50,000
50,000
100,000

LITIES
50,000
51,550
54,050

155,600
 4-Jan Retained earnings(sales)+$12,000;cash +$12,000 inventory -$7,000; Ret
6-Jan no effect
8-Jan inventory+$7,000;accounts payable +$7,000
11-Jan inventory-$1500;cash +$2,500;retained earnings(sales)+$2,500;retained
16-Jan inventory-$2,000;retained earnings(cost of goods sold)-$2,000;accounts
26-Jan cash-$4,200;retained earnings (wages)-$4,200
29-Jan cash-$20,000;land +$20,000
31-Jan cash-$2,800; prepaid insurance +$2,800

MARVIN COMPANY
BALANCE SHEET AS OF JANUARY 31
Assets Liabilities
Current assets Current Liabilities
cash 12,500 Accounts payable 7,000
accounts receivable 3,400 Total current liabilities 7,000
inventory 46,500 Non current liabilities
Total current assets 62,400 notes payable 20,000
Non current assets Total Liabilities 27,000
land 20,000 Owner's equity
prepaid insurance 2,800 capital 55,000
total non current assets 22,800 recurred earnings 3,200
total assets 85,200 Total liabilities 85,200
and owner's equity
,000 inventory -$7,000; Retained earnings (cost of goods sold)-$7,000

ings(sales)+$2,500;retained earnings(cost of goods sold)-$1500

oods sold)-$2,000;accounts receivable+$3,400;retained earnings(sales)+$3,400
 BRIAN COMPANY
CURRENT ASSETS AND LIABILITIES AS OF DECEMBER ,31
ASSETS LIABILITIES AND OWNER'S EQUITY
Current assets current liabilities
cash 2,000 accounts payable 5,000
marketable securities 3,500 wages payable 1,500
accounts receivable 7,000 bonds due current p 2,000
Current assets 12,500 current liabilities 8,500

Current ratio 1.470588235

High current ratio talks about a company's ability to payback it's liabilities.