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Published byΔορκάς Ελευθερίου Modified over 6 years ago
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Balance Sheet Debt and Equity (RHS) What we owe Point in Time
Assets (LHS) What we own Debt and Equity (RHS) What we owe Point in Time Accural Accounting Matching of Revenues with Expenses
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Organization of Balance Sheets
Assets (LHS) and Claims on assets (RHS) From Top to Bottom: Liquid to Less Liquid Short Term to Long Term Operations and Support of Operations
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Balance Sheets: Assets
Cash 7,282 9,000 Short-term inv. 0 48,600 AR 632, ,200 Inventories 1,287, ,200 Total CA 1,926,802 1,124,000 Gross FA 1,202, ,000 Less: Depr. 263, ,200 Net FA 939, ,800 Total assets 2,866,592 1,468,800
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Liabilities and Equity
1998 1997 Accts payable 524,160 145,600 Notes payable 720,000 200,000 Accruals 489,600 136,000 Total CL 1,733,760 481,600 Long-term debt 1,000,000 323,432 Common stock 460,000 460,000 Retained earnings (327,168) 203,768 Total equity 132,832 663,768 Total L&E 2,866,592 1,468,800
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