Complete the balance sheet:

Complete the balance sheet:



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
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

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.

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