| Complete the balance sheet:
Assets: CURRENT ASSETS |
2014 | 2015 |
| Cash in bank | $125,000.00 | |
| Accounts receivable | $200,000.00 | $225,000.00 |
| Inventory | $50,000.00 | |
| Prepaid expenses | $30,000.00 | $85,000.00 |
| Other current assets | $15,000.00 | $25,000.00 |
| TOTAL CURRENT ASSETS | $500,000.00 | $530,000.00 |
| FIXED ASSETS | 2014 | 2015 |
| Machinery and equipment | $29,000.00 | $33,729.00 |
| Furniture and fixtures | $8,000.00 | $24,627.00 |
| Leasehold improvements | $25,600.00 | |
| Land and buildings | $68,800.00 | $70,611.00 |
| Other fixed assets | $21,800.00 | $31,517.00 |
| (LESS accumulated depreciation on all fixed assets) | -$83,942.00 | |
| TOTAL FIXED ASSETS (NET OF DEPRECIATION) | $104,382.00 | |
| OTHER ASSETS | 2014 | 2015 |
| Intangibles | $100,000.00 | $101,997.00 |
| Deposits | $43,600.00 | |
| Goodwill | $78,136.00 | |
| Other | $69,400.00 | $65,508.00 |
| TOTAL OTHER ASSETS | $273,900.00 | $261,318.00 |
| TOTAL ASSETS | $835,800.00 | $ 895,700.00 |
Complete the balance sheet:
Expert Answer
| 2014 | 2015 | |
| Current assets: | ||
| Cash in bank | $125000 | $145000 |
| AR | 200,000 | 225000 |
| Invntory | $130,000 | 50000 |
| Prepaid expenses | 30000 | 85000 |
| Other current assets | 15000 | 25000 |
| Total current assets | $500,000 | $530,000 |
| Fixed assets: | ||
| Machinery and equipment | 29000 | 33729 |
| Furniture and fixtures | 8000 | 24627 |
| Leashehold improvements | 25600 | $27840 |
| Land and buildings | 68800 | 70611 |
| Other fixed assets | 21800 | 31517 |
| Less:accumulated depreciation | ($91300) | (83942) |
| Total fixed assets(Net of depreciaton) | $61900 | 104382 |
| Other assets | ||
| Intangibles | 100,000 | 101997 |
| Deposits | 43600 | $15677 |
| Goodwill | $60900 | 78136 |
| Other | 69400 | 65508 |
| Total other assets | 273900 | 261318 |
| Total assets | $835800 | $895700. |
Total assets=Total current assets+Total fixed assets+Total other assets
Hence Total fixed assets would be for 2014=(835800-273900-500,000)=$61900
Hence accumulated depreciation=(29000+8000+25600+68800+21800-61900)=$91300.
Total current assets=Total of cash,AR,inventory,prepaid expenses and other current assets etc.
